𝗦𝗹𝘂𝗴𝗴𝗶𝘀𝗵 𝗲𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗼𝘂𝘁𝗹𝗼𝗼𝗸: 𝘄𝗵𝗮𝘁 𝗱𝗼𝗲𝘀 𝗶𝘁 𝗺𝗲𝗮𝗻 𝗳𝗼𝗿 𝗵𝗲𝗮𝘃𝘆 𝗲𝗻𝗴𝗶𝗻𝗲𝗲𝗿𝗶𝗻𝗴 𝗶𝗻 𝗰𝗼𝗻𝘀𝘁𝗿𝘂𝗰𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗺𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴? 📉
The latest NZ Institute of Economic Research (NZIER) Consensus Forecasts are in, and they suggest a challenging economic outlook for the next few years. With zero percent GDP growth expected by March 2025 and a slow recovery predicted by 2026, businesses in heavy engineering, construction, manufacturing, and the steel industry will need to stay agile and prepared.
The slowdown, reflected in NZIER’s Quarterly Survey of Business Opinion, points to a dip in business confidence and trading activity. For HERA members, this could mean tightening conditions, delayed projects, and increased pressure to optimise resources. However, there’s hope on the horizon—forecasts show economic recovery from 2026, supported by lower interest rates.
Now more than ever, adopting innovative technologies like those developed under our Ngākopa Construction 4.0 research, and focusing on efficiency and sustainability, will be key to navigating this sluggish period. It’s about preparing for future growth, even when the road looks tough!
👉 Read the full NZIER Consensus Forecasts here: https://lnkd.in/gRrEk4bi
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#EconomicForecast #NZEconomy #HeavyEngineering #ManufacturingNZ #ConstructionNZ #SteelIndustry #HERA #BusinessResilience #EngineeringInnovation #Construction40 #FutureGrowth #Sustainability
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1moVery informative