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ANZ analysts suggest that their latest economic outlook has New Zealand’s annual GDP growth slowing to 2% in Q2 2019.

Key Quotes

“However, still-high (but easing) net migration inflows, expansionary (but not persistently) fiscal policy, low interest rates, and an elevated terms of trade should put a floor under the deceleration.”

“Capacity pressures are poised to continue to wane and that’s going to weigh on non-tradable inflation. However, with OCR cuts expected from August, it shouldn’t be long before the economy gets the stimulus it needs to push economic activity back into inflation-building territory.”

“It’s a pretty quiet week ahead data-wise, with ANZ-Roy Morgan Consumer Confidence for April and Overseas Merchandise Trade for March both due out on Friday.”