Quarterly Bulletin 2026:3 – Steady growth amid heightened inflation and ongoing external uncertainty

Modified domestic demand (MDD) growth is being revised up modestly in 2026 to 3.8 per cent and to 3.4 per cent in 2027, supported by resilient consumer spending and multinational investment Headline inflation is projected to average 3.4 per cent in 2026, moderating to 3.1 per cent in 2027 and 2.0 per cent in 2028 Significant increase in housing output expected out to 2028, but increasing deliver …