NZ gross domestic product data for the July to September quarter of 2017
0.6% q/q
- expected 0.6%, prior 1.0%, revised higher from 0.8%
2.7% y/y
- expected 2.4%, prior 2.8%, revised well up from 2.5%
A better than expected result, y/y beat and revision higher to the previous for both q/q and y/y. The revisions to the prior quarter have had the effect of some headlines reading that the NZ economy grew slower in Q3 than Q2. Which is true, but still ....
NZD trading higher on the results.
Note that the Stats agency in NZ is citing benchmark changes as part of the reason for the results today. If you want more on this:
