NZ: Expect modest GDP growth of 0.4% q/q in Q3 - ANZ

Phil Borkin, Senior Economist at ANZ, expects modest GDP growth of 0.4% q/q in Q3 for New Zealand, which would see annual growth ease to 2.2%. 

Key Quotes

“The softness is largely on account of a contraction in primary production, with inventories the main drag on expenditure-based growth.”

“The possibility of meaningful historical revisions adds a greater degree of uncertainty than usual.”

“Balance of payments figures are expected to show a reduction in the seasonally adjusted current account deficit, with the annual deficit narrowing to 2.5% of GDP.”