Last week’s data largely supported our outlook for the NewZealand economy. New Zealand’s export commodity pricesrose to a new record, and the terms of trade edged up to seta fresh 40 year high. Building activity printed a bit softerthan expectations but we think this will be temporary andthe Auckland housing market remains in slowdown mode.All eyes now turn to this week’s Monetary Policy Statementfrom the RBNZ.
Read the full report: Market Research
Westpac