New Zealand’s September quarter GDP expanded a seasonally adjusted 1.0%. This was faster than the market’s expectation of 0.7%. And it surpassed our, and the Reserve Bank’s, view of 0.9%. So why are we not that excited by the result? There are two reasons. The first is that the quarterly expansion was very noisy in its detail. Second, there have been some material revisions to history that paint a slower picture on New Zealand’s economic growth over recent times.
Read the full report: Economic Research