NZ: Annual GDP growth likely to slow to 2% in Q2 2019 - ANZ

Sandeep Kanihama FXStreet Contributor

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.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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