NZ: Q3 GDP likely to improve to 0.9% – Westpac

By FXStreet FXStreet (Delhi) – Research Team at Westpac, expects the NZ’s September quarter GDP to improve on the two surprisingly soft reads in the first half of this year.

Key Quotes

“The final sectoral indicators published this week have pushed our forecast up to 0.9% growth, a touch above the market median.

While activity in the primary sectors looks to have been softer across the board, we expect to see strong gains across manufacturing and services for the quarter.

A strong GDP outturn, as we expect, might seem to weaken the case for further interest rate cuts. However, it’s clear that the trend pace of growth has softened, and even more so once we consider population growth of around 2% a year. Slack in the domestic economy is building and inflation pressures will remain subdued.”
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Source:: FX Street