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.