While most people are busily winding down for the festive break New Zealand’s economic reports wind up to a lather this week. The pick of them will no doubt be Thursday’s Q3 GDP. We anticipate a jolly good gain in this, of 0.9%. This is right in line with RBNZ (December MPS) expectations. The market consensus is lower, at 0.7%. We have sympathy with this, as a direction of risk, more so than seeing something above 1.0% on Q3 GDP growth. As well as the Q3 GDP results and detail, we’ll also be very interested in the annual revisions that Statistics NZ will be publishing on Thursday.
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