First quarter economic growth data due at 2245GMT from New Zealand
- expected 0.5% q/q, prior 0.6%
- expected 2.7% y/y, prior 2.9%
A couple of what to expects, just a couple of quickie (bolding mine):
Via NAB:
- We expect a 0.5% quarterly real increase (in line with the early polling)
- We judge the risks as tilted toward disappointment (our expenditure version of Q1 GDP, for instance, is showing just +0.1%).
- For reference, the RBNZ expected a 0.7% increase in Q1 GDP, as per its May Monetary Policy Statement. Still, any slowness in 01 GDP is likely to reflect identifiable drags of a transitory nature, which, in turn, should support the idea of stronger growth in Q2.
Via ING:
- while markets are looking for 0.5% quarter on quarter, the risk of a softer figure is unlikely to fuel any RBNZ tightening sentiment. We'll be keeping a close eye on this release - as any glimmer of hope would see NZD jump to the top of our preferred short-term FX picks
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Earlier:
