NZ market flat as US inflation data surprises

In the US, the consumer price index rose 0.1% in November, versus a forecast for a 0.3% gain. 

The NZ Treasury’s half-year economic and fiscal update was also revealed today, with the Treasury now expecting a mild election-year recession but predicted the economy will bounce back.

The S&P/NZX 50 index fell 16.4 points, or 0.8%, to 11,585.00. Turnover was $170.2 million.

Devon Funds head of retail Greg Smith said the US November monthly inflation rise of just 0.1% was the smallest in more than a year.