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