New Zealand GDP data is due on June 21, so a little while to go.
WPAC:
- Looking for the New Zealand economy to have expanded by "less than half a percent" in Q1
Citing:
- weak retail spending and construction
And the slow growth has implications for net immigration
- "people tend to vote with their feet" and move to places where economies are doing better
- expects a sustained drop in immigration
- This could exacerbate the economic slowdown
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Dunno on the migration argument…. yes Q1 will slow, but I reckon it might well be disregarded as we look ahead to better data from Q2 onward.