Q+A with Jack Tame Full show: Q+A with Jack Tame, September 21 2025
Sep 20, 2025
Paul Bloxham, HSBC's Chief Economist for Australia and New Zealand, discusses the surprising GDP drop in New Zealand and its implications for future growth. Sara Templeton and Phil Mauger, competing for the Christchurch mayoralty, debate their visions for the city's development, focusing on transport and housing. They tackle crucial issues like emissions from transport and financial strategies for the local council. Plus, there's an eye-opening look at the booming Antarctic tourism sector and its environmental challenges.
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Surprising Depth Of The Downturn
- New Zealand's GDP fell sharply in Q2, worse than comparable countries and expectations.
- Paul Bloxham attributes the shock to a deep starting contraction, global uncertainty, and sectoral weakness.
Consumption Leads Recovery
- Consumption shows early signs of recovery despite the overall GDP drop.
- Bloxham expects RBNZ easing and dairy price strength to help growth later in the year.
Sector Weakness Delayed Turnaround
- Manufacturing and construction declines reflect both local malaise and global trade tensions.
- These sectors' weakness delayed the economy's expected turn-around.