'Black clouds' on horizon for NZ economy


A Chief economist says dark financial times are ahead "regardless of who is in government".

NZ First leader Winston Peters announced he would go into a coalition with Labour on Thursday evening, he said there were "dark days ahead" both on the international horizon and here.

Business and Economic Research Limited chief economist Dr Ganesh Nana told The AM Show the black clouds on the horizon have been there "for quite a while".

“Ten years after the global financial crisis, world balance sheets are still a bit of a mess.”

We’ve managed to keep it at bay but I think it’s coming

Dr Nana says the slowdown won't be "scarily bad" will be an "adjustment".

Prime Minister-elect Jacinda Ardern told The AM Show it's only fair that Mr Peters warned of "signs of a slowdown" for the economy.

Ms Ardern says while it is the Government's job to manage international economic factors, "you can't control what you face."

The AM Show with Duncan Garner, Amanda Gillies and Mark Richardson, weekdays 6-9am on RadioLIVE and streaming live to the ROVA app on Android and iPhone.