New Zealand Q2 Gross domestic product data is due on Sep 19

Earlier today we received news on weak manufacturing in the quarter:

BNZ have responded by taking a knife to their Q2 GDP estimate:

  • Pruning our Q2 GDP estimate to 0.3% (1.9% y/y)

BNZ add:

  • Today's manufacturing data on the weak side
  • GDP estimate to 0.3% … lower than the 0.5% the RBNZ expects
  • It's hard to know whether it's still principally capacity problems, or weakening demand now coming in over the top. But the data are more and more questioning the pulse of New Zealand's GDP.

NZD is at the middle of its session range:

New Zealand Q2 Gross domestic product data is due on Sep 19