Analysts at TD Securities note that New Zealand’s Q2 manufacturing fell -1.2%, which is going to be the final input into GDP (released 20 Sep).
Key Quotes
“After offsetting the weaker Q2 manufacturing input by last week’s stronger wholesale sales (+2.6%), we stick with +0.8%/q for Q2 GDP (released Sep 20).”
“The lower manufacturing outcome might trim the more aggressive f/cs out there.”
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