Flat GDP on the back of record high immigration - would be nothing to celebrate

ASB is predicting a 0.2 percentage point drop, ANZ expects 0.1 percentage point growth and the Reserve Bank's forecast a flat zero percent.

If the economic growth figures are negative, New Zealand will enter a technical recession, after a second negative figure the previous quarter.

Infometrics principal economist Brad Olsen says at a household level, spending and activity has fallen steeply.

He says spending activity is down around the largest falls seen since the Global Financial Crisis on a per-person basis.