Despite hints of stabilisation, the latest NZEIR consensus forecasts show the outlook for New Zealand's economic growth is expected to deteriorate.
The forecasts combine latest surveys from financial and economic agencies.
They show growth over the next year is now expected to contract by 1.6% against a decline of 0.6% predicted three months ago.
More than 60,000 jobs are expected to be lost over the year, with subdued wage inflation over the next two.
However, optimism for a recovery has slightly improved by 0.1% to 2.8%.