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- NZ GDP beats expectations, Kiwi unchaged
NZ GDP beats expectations, Kiwi unchaged
The Gross Domestic Product (GDP), released by Statistics New Zealand has been released as follows and is better than expected:
New Zealand GDP Q3
+2.0% QoQ vs. expected +0.9%, prior +1.7%.
+6.4% YoY vs. expected +5.5%, prior +0.4%.
NZD/USD is unchanged at 0.6457.
More to come...
About NZ GDP
The Gross Domestic Product (GDP), released by Statistics New Zealand, highlights the overall economic performance on a quarterly basis. The gauge has a significant influence on the Reserve Bank of New Zealand’s (RBNZ) monetary policy decision, in turn affecting the New Zealand dollar. A rise in the GDP rate signifies improvement in the economic conditions, which calls for tighter monetary policy, while a drop suggests deterioration in the activity. An above-forecast GDP reading is seen as NZD bullish
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