The recent Auckland floods may be bad news for the economy.
Hundreds of houses will need to be repaired, businesses are grappling with ruined stock, and the damages are estimated to be over a billion dollars.
NZ Herald business editor at large, Liam Dann, says the Auckland floods have come at a bad time at this point in the current economic cycle.
Liam Dann says the extra stimulus generated by the floods is going to add to the pre-existing inflationary pressure in key industries such as produce and construction.
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