While Cyclone Gabrielle will have a negative impact on the economy this quarter, it could be a different story later in the year.
The latest GDP figures show a 0.6 percent contraction for the December quarter, with economists predicting another decline to follow, partly driven by recent weather events.
But ANZ Senior Economist Miles Workman told Kate Hawkesby that it will support GDP in the quarters to come.
He says that broken window style of economics is going to give demand for goods and services a bump higher than otherwise as people rebuild and replace.
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