NZ: Strong Q1 GDP likely - TDS

Sandeep Kanihama FXStreet Contributor

According to analysts at TD Securities, NZ Q1 GDP is set to be a strong one in GDP(E) terms.

Key Quotes

“Retail sales was +0.7% q/q, dwelling construction was +4.3% q/q and non-residential construction a blockbuster +9% q/q. There tends to seasonal weakness in public spending (we pencil in -0.3%pts) and we look for +0.4%pts for the trade sector.”

“Overall, GDP is set to post at least 1% q/q with our (E) tracking literally twice that. Our GDP(P) measure is more modest at +1.1% q/q, although well above consensus +0.6%, which lifts annual growth from 2.3% to 2.9%.”

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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