NZ Treasury: Unemployment rate to peak at 7.8% vs. 9.8% forecast in budget

New Zealand’s (NZ) Treasury is out with its pre-election Economic and Fiscal Update (PREFU) for this year, with the key takeaways found below (via Reuters).

NZ gov sees unemployment rate to peak at 7.8%, down from 9.8% forecast in budget

Sees 2020 GDP -3.1 Pct (Budget -4.6 Pct); 2021 GDP at -0.5% -

Sees net debt rising to 55.3% of GDP in 2024

Forecasts shallower virus slump, longer impact

more to come ....