Search ForexCrunch

Michael Gordon, senior economist at Westpac, suggests that they are expecting a 0.3% rise in New Zealand’s December quarter GDP, less than market expectations or the Reserve Bank’s forecast.

Key Quotes

“There seems to have been a genuine slowdown in growth over late 2018, though it was exacerbated by some temporary disruptions in the energy sector.”

“Both the New Zealand and Australian economies have slowed in recent times, but for different reasons. Household spending and construction were highlights for New Zealand in the December quarter.”

“We expect the annual current account deficit to widen to 3.9% of GDP, a six-year high. The terms of trade fell over 2018 and import volumes have remained strong.”