Full Show Podcast: 17 September 2026
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What economic outlook does the show preview for New Zealand’s Q2 GDP?
And the personalities. The big names talk to Mike. The Mike Hosking Breakfast. With Range Rover. British luxury. Classic elegance. Modern reinvention. Newstalk ZB.
Welcome today. The jobs are back. Ads at four-year highs. Supermarkets are getting kicked from all directions. GDP, the war quarter. What's the number? Are we growing or not? Raker's new coach, Gordon Herbert, introduces himself to us after eight. Joe McKenna in Italy. Enda Brady covers the mighty UK. Welcome to the day. Seven past six. As in all things economic, today's GDP number can be seen a couple of different ways. Now, there is no doubt Q2 will be down on what might have been. A war will do this for you. But the real story for the glass half fullers is if we get any growth at all, it's little short of a miracle. If you think back to April, the war was in full flight. It was still going to be short and sharp.
The regime would fall. The bloc straight would be open. Oil would plummet. And the fight would have been worth it because Iran would never have a nuclear weapon. Most importantly at the time, The concern was over supply of oil. We were gripped with fear over it. Not so much about the price of oil, but the arrival of oil at all. In fact, Glass Half Full, that was one of the great outworkings of modern commerce. Supply never really got to be the problem that was feared because the world hustled. They found alternative supplies and routes. They did deals. And at no point were we ever likely to even come close to running out of the stuff at the pump. It didn't stop a lot of people panicking and one buying an EV and two forecasting complete doom as inflation would rocket.
The price of everything would go through the roof and as a result, growth would stall. Remember all this? This was unfortunate for the government in election year. We decided given the recovery had been on, the mood was lifting and life was looking exponentially better. Well, those dark days of April, May and June will be revealed today in the form of the GDP number for Q2. And it looks like what we feared never happened. It was never as dark or miserable. The inflation did lift, but not to the extent the misery merchants suggested. Did we lose momentum? Of course we did. Did we go backwards? Doesn't look like it. Forecasts are for 0.1 to 0.3. Growth. Actual growth. We kept on growing through the height of the war.
Glass half full. That. More importantly, it's the springboard that's providing the momentum we're seeing and feeling right now in Q3. The exports boom, the manufacturing expansion, the services expansion, the tourist revival, the confidence lift. Today, by any measure, if it's above zero, we win.
News of the world in 90 seconds.
World and its economic gyrations actually front and center this morning. The Fed's call, it's up, by the way. Get the details with Andrew in a moment. But the Mark Carney show arrived in Europe for a reshaping of relationships.
This is not a partnership against anyone else, but for our common strength. In short, we want to bring the relationship with Canada to the highest level possible.
They're going to be the associate member, first ever associate member. Meantime, the UK got a bad inflation read overnight and old Andy, he's got a budget coming with
no
money.
It's why VAT will come off electricity bills in a few weeks time. It's why we're taking action on bus fares and other things just to give people that little bit of help.
AI freakout rolls on in Washington this morning as the slow down, don't slow down debate plays out. The safeguards will in fact be
AI overseeing AI. When we went from horses to cars, as soon as the bank robbers figured out a car was faster than a horse, the police had to have cars that were faster than those horses too.
Back in Britain from our cosplay department, Piddington has voted to leave Britain.
We want to re-energise the politics at the very, basically the grassroots of our operation here and everywhere else. And people are asking us, just show us how
to
do
it. It means exactly nothing, of course. Old Ed's finally spoken out about his Support Act problem.
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Chapters
8 chapters
1
What economic outlook does the show preview for New Zealand’s Q2 GDP?
0:01–8:00
2
How is the National Party’s plan to split Foodstuffs expected to affect supermarket competition?
8:00–15:12
3
What concerns does Foodstuffs North Island chair Dean Waddell raise about the split proposal?
15:12–26:51
4
How does the proposed supermarket split impact regional pricing and rural shoppers?
26:51–39:32
5
What are the latest sales trends for sports merchandise and Dynasty Sport’s growth?
39:32–47:50
6
How will new Breakers coach Gordon Herbert balance his dual coaching roles?
47:50–1:02:11
7
What are the key take‑aways from the market and political analysis segments?
1:02:11–1:21:03
8
What final headlines and sponsor messages wrap up the episode?
1:21:03–1:29:14
Speakers
7 identifiedMore from The Mike Hosking Breakfast
Mike's Minute: Supermarket and price gouging policies are fanciful
Gordon Herbert: New Breakers Coach on signing on with the team for the next two years
Tyler Rakich: Dynasty Sport Co-founder on surge in Kiwis buying sports merchandise
Nicola Willis: National's Finance Spokesperson on their proposal to split Foodstuffs in two to drive supermarket competition
Dean Waddell: Foodstuffs North Island Chair on National's plan to split up supermarkets
Alan McDonald: Employers and Manufacturers Association Head of Advocacy on Auckland job ads seeing its biggest rise in four years