New Zealand Q4 GDP

+0.9% q/q (sa)

  • expected +0.7%, prior +0.9%

+2.3% y/y

  • expected +2.1%and prior was +2.3%

Another beat from the NZ economy. This will be supportive (again) for the NZD.

It will reduce expectations for another near-term RBNZ rate cut. The RBNZ are still heeding the very low inflation figures, so thoughts of cuts won't disappear, but they'll be further away now



Farm production slowed, but gains for construction (construction-related investment increased, this was offset by lower investment in plant, machinery, and equipment; and transport equipment), business services and retail.