While the focus has been on the FOMC and response, a heads-up for NZD traders – the New Zealand Q3 GDP is out at 2145GMT:

  • expected is +0.7% q/q
  • prior was +0.7%

Also, for the y/y

  • expected is +3.3% y/y
  • prior was +3.9%

What we have seen this quarter:

  • A rebound in milk production after the fall in Q2
  • A strong quarter for non-food manufacturin
  • Continued strong growth in construction and household spending

Note, there will be annual revisions incorporated in this release, which might well alter the understanding we currently have of the economy & how fast it is growing