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Ryan Bridge: When will our economy come out of its hangover? · The SME Stream

• 0:00
  Speaker 1: The US economy is just humming along at the moment,
• 0:02
  Speaker 1: isn't it. Two point eight percent?
• 0:04
  Speaker 2: As I mentioned larlier in the program, two point eight
• 0:06
  Speaker 2: percent is their lucky number this morning. Two point eight
• 0:08
  Speaker 2: percent annualized GDP for the September quarter, better than the Eurozone,
• 0:13
  Speaker 2: better than the UK, much better than US. We're still
• 0:16
  Speaker 2: going backwards. Twenty twenty four has basically been a write off.
• 0:20
  Speaker 2: But then we went balls to the wall with interest
• 0:22
  Speaker 2: rate hikes post COVID, and we were the first out
• 0:26
  Speaker 2: the gate to do it as well.
• 0:28
  Speaker 1: We've held higher for longer, and the hangover is hitting
• 0:31
  Speaker 1: like a forty ounces Smirnoff in the morning. It's not pretty,
• 0:36
  Speaker 1: is it.
• 0:37
  Speaker 2: Sure the rates are coming down, we saw more of
• 0:39
  Speaker 2: that yesterday, but boy, the mess that that wrecking ball
• 0:42
  Speaker 2: has left behind. What's interesting about the Americans, even though
• 0:45
  Speaker 2: their consumer confidence was low as ours has been as well,
• 0:49
  Speaker 2: they would still go out and use the credit card
• 0:51
  Speaker 2: to buy stuff. In other words, the sentiment there didn't
• 0:54
  Speaker 2: match the reality, which is what we're seeing in the
• 0:56
  Speaker 2: GDP number that's been announced this morning, which should and
• 1:00
  Speaker 2: do envy. Of course, they're a country that's run on
• 1:04
  Speaker 2: domestic consumption. We run on trade and we haven't been
• 1:07
  Speaker 2: helped by the likes of China where there's been the
• 1:09
  Speaker 2: slow down, Europe, etc. There are the markets that we
• 1:11
  Speaker 2: must sell to to make a buck. But there is
• 1:14
  Speaker 2: a question here for Nicola Willis, now that inflation is beat,
• 1:18
  Speaker 2: how much further will you go with the belt tightening?
• 1:22
  Speaker 2: Is a return to surplus at all costs, at any
• 1:25
  Speaker 2: costs worth it? She's repeatedly said, not how much? Does
• 1:29
  Speaker 2: she mean that? I guess we'll find out when we
• 1:31
  Speaker 2: get the Haifu numbers for December on the seventeenth, or
• 1:36
  Speaker 2: when the Minister comes on the show in twenty minutes.
• 1:38
  Speaker 1: We'll ask you then too,