RBNZ’s Conway: more uncertainty around GDP projections due to cyclone

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Updated: Feb 22, 2023, 20:20 GMT+00:00

WELLINGTON (Reuters) - A cyclone that hit New Zealand earlier this month was leading to greater uncertainty around GDP projections, the Reserve Bank of New Zealand's chief economist Paul Conway said on Tuesday.

Two people walk towards the entrance of the Reserve Bank of New Zealand located in the New Zealand capital city of Wellington

WELLINGTON (Reuters) – A cyclone that hit New Zealand earlier this month was leading to greater uncertainty around GDP projections, the Reserve Bank of New Zealand’s chief economist Paul Conway said on Thursday.

New Zealand warned on Monday the final cost of the devastating Cyclone Gabrielle, which has left at least 11 people dead, could rise above $8 billion as authorities announced emergency funding to help in the recovery efforts.

(This story has been corrected to say Paul Conway was speaking on Thursday, not Tuesday, in paragraph 1)

(Reporting by Alasdair Pal in Wellington; Editing by Lucy Craymer)

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