New Zealand shares fall as recession fears rise
The S&P/NZX 50 Index fell 64.5 points, or 0.6%, to 11,198.68. Turnover was $108 million.
BNZ Research said in a note that global recession concerns were pushing long-term interest rates lower last week and the US yield curve is now “deeply inverted” – which is a reliable indicator of recession in the United States.
BNZ's head of research, Stephen Toplis, said business and consumer confidence will be “a critical determinant” of how the NZ economy performs over the next 12 months.
“Morose householders do not spend and upset businesses neither hire nor invest. When both businesses and consumers are unhappy then there is little chance that an economy will flourish,” he said.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[Weekly Wrap] KiwiSaver in play; but outcome unclear](https://goodreturns.publit.io/file/c_fill,w_300,h_200/0ad582e4-c9a3-4692-bbe2-62d928f77fd2.jpg)
