1
00:00:00,080 --> 00:00:04,440
Speaker 1: Liam Dan, herold's business editor at Largest with us A. Liam, Hello, Heather,

2
00:00:04,559 --> 00:00:06,160
Speaker 1: How good was that GDP number?

3
00:00:07,680 --> 00:00:10,000
Speaker 2: Pretty good? Like, I mean, you know, the economists had

4
00:00:10,000 --> 00:00:13,280
Speaker 2: already uped all the forecasts to zero point seven and

5
00:00:13,320 --> 00:00:15,640
Speaker 2: we got zero point eight. But as you know, I've

6
00:00:15,680 --> 00:00:18,079
Speaker 2: mentioned before, I'm a little bit skeptical of GDP numbers.

7
00:00:18,520 --> 00:00:21,119
Speaker 2: You know that the one from the last quarter of

8
00:00:21,160 --> 00:00:24,720
Speaker 2: twenty twenty four got revised down to zero point five,

9
00:00:24,840 --> 00:00:27,600
Speaker 2: so you know, there's no guarantees that it's spot on

10
00:00:27,680 --> 00:00:30,120
Speaker 2: for this one either. But look, look, we'll take it.

11
00:00:30,120 --> 00:00:34,920
Speaker 2: It looks like the recovery was underway and in full

12
00:00:34,960 --> 00:00:37,760
Speaker 2: swing in that first quarter, so we'll we'll you know,

13
00:00:37,920 --> 00:00:39,680
Speaker 2: let's let's take that at for starters.

14
00:00:40,159 --> 00:00:42,680
Speaker 1: Well, and we headed it. I mean, geez, honestly, how

15
00:00:42,680 --> 00:00:44,720
Speaker 1: many quarters have we had that have been rubbish? Right?

16
00:00:45,200 --> 00:00:48,120
Speaker 1: At least we are headed solidly in the right direction,

17
00:00:48,200 --> 00:00:49,600
Speaker 1: even if we have to grind it out for the

18
00:00:49,600 --> 00:00:51,080
Speaker 1: rest of the year. Or am I being a little

19
00:00:51,080 --> 00:00:52,599
Speaker 1: too polyannash here?

20
00:00:53,479 --> 00:00:55,400
Speaker 2: Well, I think we are still heading in the right direction.

21
00:00:55,640 --> 00:00:59,280
Speaker 2: What spooked economists in the last week or so is

22
00:00:59,320 --> 00:01:03,000
Speaker 2: that the the sort of high frequency data for the

23
00:01:03,040 --> 00:01:06,440
Speaker 2: second quarter that we're seeing for the that's coming through

24
00:01:06,440 --> 00:01:10,240
Speaker 2: from May around manufacturing and services that went back into

25
00:01:10,280 --> 00:01:14,039
Speaker 2: negative Territory card spending in May went down. So all

26
00:01:14,040 --> 00:01:16,680
Speaker 2: this this this first quarter GDP was pretty solid. It

27
00:01:16,720 --> 00:01:21,520
Speaker 2: was all pre Donald Trump doing the Liberation Day thing,

28
00:01:21,880 --> 00:01:25,839
Speaker 2: and you know, that sort of hit confidence, I guess,

29
00:01:26,440 --> 00:01:28,640
Speaker 2: and it made our KEYPI savers go down and that

30
00:01:28,640 --> 00:01:31,520
Speaker 2: that probably didn't help. And then we've we've you know,

31
00:01:31,600 --> 00:01:35,160
Speaker 2: we've also seen that you know, not not great stuff

32
00:01:35,160 --> 00:01:37,280
Speaker 2: from the housing market, which we know is sort of

33
00:01:37,319 --> 00:01:39,600
Speaker 2: a bit of a driver of a wealth effect, particularly

34
00:01:40,440 --> 00:01:44,120
Speaker 2: in the big cities in Auckland. So consumers not feeling

35
00:01:44,480 --> 00:01:47,680
Speaker 2: hugely confident right now. So so yeah, the sort of

36
00:01:47,720 --> 00:01:50,440
Speaker 2: mixed feelings, but you know it is heading in the

37
00:01:50,520 --> 00:01:54,280
Speaker 2: right direction. And you know that there's a feeling that

38
00:01:55,200 --> 00:01:57,919
Speaker 2: well for starters that the Reserve Bank will probably pause

39
00:01:57,960 --> 00:01:59,720
Speaker 2: in July and just wait and see and won't give

40
00:01:59,760 --> 00:02:02,160
Speaker 2: us an the cat just in case they start to

41
00:02:02,200 --> 00:02:03,040
Speaker 2: get ahead of themselves.

42
00:02:03,080 --> 00:02:04,960
Speaker 1: Of course not why would they want to do anything

43
00:02:04,960 --> 00:02:07,800
Speaker 1: to help the economy, Liam, thanks very much, appreciate it.

44
00:02:07,800 --> 00:02:09,840
Speaker 1: Liam Dann, the Herald's Business editor at large.

45
00:02:10,240 --> 00:02:12,480
Speaker 2: For more from hither, Duplessy Alan Drive.

46
00:02:12,639 --> 00:02:16,040
Speaker 1: Listen live to news talks it'd be from four pm weekdays,

47
00:02:16,160 --> 00:02:18,360
Speaker 1: or follow the podcast on iHeartRadio