NZ: Expect a 0.6% increase in March quarter GDP - Westpac

Research Team at Westpac, expects a 0.6% increase in NZ’s March quarter GDP, below the 0.9% quarterly pace seen in the second half of last year.

Key Quotes 

“The slower pace is largely attributable to meat processing, with higher than usual slaughter rates in late 2015 resulting in fewer animals available in early 2016.

The strongest contribution is likely to come from the construction sector. Quake rebuild activity in Canterbury has peaked, but there is a strong pipeline of building work across the rest of the country.

Consumers appear to have made a relatively modest contribution to growth over the quarter. This may have been a product of the subdued housing market at the start of the year, following last year's investor regulations.”