Economist insights

Economist Insights

Economist Insights
<h3>Common Purpose</h3> <p>As the sugar rush of the Government’s economic response to Covid-19 starts to wear off, many New Zealand businesses will struggle to stay afloat. And as more job losses are announced, employees will grow increasingly concerned at their lack of job security. But ASB’s Chief Economist Nick Tuffley says businesses that get on top of their finances and look for productivity gains, create a common purpose, openly communicate the challenges they’re facing and harness their employees’ increased loyalty and innovative ideas will greatly increase their odds of survival.</p>
<h3>&nbsp;</h3> <h3>Scenario Planning</h3> <p>By failing to prepare, you’re preparing to fail and while the global economic uncertainty means it’s very difficult to make accurate predictions at the moment, it’s still important to map out a range of potential outcomes for your business and the steps that need to be taken to deal with each of them. ASB’s Chief Economist Nick Tuffley looks at the three possible scenarios for New Zealand’s recovery and explains why it’s so crucial for businesses to plan for the worst and hope for the best.</p>
<h3>&nbsp;</h3> <h3>Recovery stages</h3> <p>The level 4 lockdown saw the economy grind to a halt but, as the virus has been brought under control and the restrictions relaxed, the first part of the country’s recovery has already begun. ASB’s Chief Economist Nick Tuffley lays out the next phases of this recovery and looks at some of the long-term behaviour changes and potential business opportunities that the Covid-19 crisis might lead to.</p>
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