The global economy is in a soft patch. The key headwind is the politics of trade and the slow progress being made in resolving outstanding tensions. The tailwind is that labour markets are still in good shape, employment growth remains robust and wage growth is nudging higher. However, we see the current weakness in growth as temporary, and believe stronger activity data will be emerging from mid this year.
Read more on our outlook for the New Zealand and global economies, and across asset classes, in the April edition of Quarterly Strategic Outlook.
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