Main points highlighted by the Treasury from their monthly report:
- GDP grew 0.8% in the June quarter with strong exports growth and solid growth in consumption being partially offset by weaker residential investment and an unexpected decline in stocks.
- The current account deficit narrowed in the June quarter, due to a larger services surplus, supported by strong tourism exports.
- Global growth outlook remains positive as central banks start contemplating reducing monetary policy stimulus.
NZD is a little lower, but that would seem to be more a function of the broad USD we've just had
