New Zealand's economy is charging ahead - but the Covid-19 Delta variant could still wreak havoc
New Zealand's economy is charging ahead - but the Covid-19 Delta variant could still wreak havoc
17 August 2021
Westpac's latest economic overview has found domestic activity is growing in leaps and bounds, thanks to our virus elimination strategy.
Business demand's strong - particularly for construction, manufacturing and the service sector - and unemployment's at just four per cent.
But the report warns while our vaccination rate is currently low, an outbreak here would require more lockdowns.
Acting chief economist Michael Gordon says as mass-vaccination can't manage Delta long-term, ongoing measures will be needed.
He says many countries will be re-opening their economies with restrictions - whereas we have almost no domestic restrictions - and may need to be less free-wheeling.
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