Economic Weekly: We’re out! (but not as we know it)

  • As New Zealand emerges out of Level 4 lockdown, attention is inevitably shifting from the extent of economic damage wrought by the lockdown, to the shape of the recovery.
  • We estimate economic activity will still only be around 80% of normal in Level 3 as the economy will be battling through the headwinds of damaged household incomes and business balance sheets, weak confidence, and a much larger debt burden.
  • And we think it will take a full three years before the economy gets back to its pre-COVID starting point.

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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.