NZ: Expect 0.4% rise in Q3 GDP, current account deficit to narrow to 2.5% of GDP - Westpac

According to Michael Gordon, Senior Economist at Westpac, the September quarter is likely to mark the weak point for New Zealand’s economic growth this year and they expect a 0.4% rise in GDP.

Key Quotes

“Much of the slowdown in growth is due to temporary factors, such as lower milk production and a pullback in tourist spending after an earlier spike.”

“The annual current account deficit is expected to narrow to 2.5% of GDP, due to lower imports.”

“Annual revisions to the national accounts are likely to show higher GDP growth over the last few years than previously thought.”