Westpac analysts are expecting the New Zealand GDP to rise by 0.6% for the June quarter, matching the pace seen in the previous two quarters.
“Service sector activity looks to have picked up after a particularly soft patch in the March quarter, while construction, mining and food manufacturing are likely to have eased back.”
“Our GDP forecast is slightly above the Reserve Bank’s forecast and at the upper end of market forecasts.”
“A result in line with our view is unlikely to move the dial for the RBNZ. We expect no change at the September OCR review, but a further cut in November.”
“We expect the annual current account deficit to narrow to at 3.4% of GDP, subject to the impact of annual data revisions. Exports picked up in the quarter while imports were flat.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.