BNZ’s head of research Stephen Toplis has ‘pencilled in’ a -5% fall in economic activity for the June quarter ‘but it could easily be more than double this’: Unemployment may later hit 9%

Prepare yourself for some very ugly GDP figures. And for an unemployment rate that might hit 9%.
BNZ’s head of research Stephen Toplis, while conceding that all forecasts are currently “nonsensical” has “pencilled in” an estimate of -5% GDP growth for the se… [+3417 chars]Source