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The economy will grow at its slowest rate in seven years over the coming months according to the New Zealand Institute of Economic Research.
It warns inflation is a gathering menace and could lead to further interest rate increases. The private forecaster’s quarterly predictions state the economy will grow 1.3 per cent in the year to March, down from the 2.1 per cent growth forecast in the previous survey in May. It says domestic spending is shrinking, due to mortgage rates above 10 percent. Full Item
