Infometrics is predicting a second recesson in 2009!
New Zealand has been in recessions since the end of 2007, with negative growth in Q1 and Q2 2008. It is widely expected that Q3 will also be negative.
So Infometrics seem to be saying Q4 might be marginally positive, but then in 2009 Q1 and Q2 will be negative again.
If they are right, the decade of deficits just got worse.