Economic Weekly: Exploring NZ labour productivity

The NZ economic outlook is solid, supported by a number of tailwinds including population growth, income growth and low interest rates. However, risks to the outlook remain. One such risk is the potential for labour capacity constraints to slow GDP growth.  This week on page 2 we use recently-published productivity data to explore this in more detail. Key local events for the week include Tuesday’s travel and migration data (see Chart of the Week) and Fridays’ trade balance data. Offshore, trade tensions and remain elevated and are likely to continue to drive market sentiment. Global data this week includes the ECB and BOJ rate announcements on Friday, Australian CPI on Tuesday and US Q1 GDP overnight Friday.

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Mark Smith

Senior Economist

Mark joined ASB in 2017, with over 20 years of public and private sector experience working as an economist in New Zealand and the UK.

His resume includes lengthy stints at ANZ and the Reserve Bank of New Zealand, and he has also worked at the Bank of England, HM Treasury and the New Zealand Transport Agency. Mark's areas of specialisation include interest rate strategy, macro-economic analysis and urban economics.

Born and bred in the Waikato, Mark studied at Waikato University where he graduated with a Master of Social Sciences, majoring in Economics.

Mark's key strengths are the ability to use his extensive experience, inquisitive nature, analytical ability, creativity and pragmatism to dig a little deeper and to deliver common sense solutions to tackle complex problems.

When not at work Mark likes to travel, keep fit and spend time with his friends and family.