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New Zealand Q3 GDP +0.9% q/q vs +0.8% exp

New Zealand growth data for the third quarter

  • Prior reading was +0.4%
  • GDP +2.3% y/y vs +2.3% exp
  • GDP up 2.4% prior
  • Q2 revised down to 0.3% from +0.4%
  • Grew annual average 2.9% in year through Sept

A tad stronger this quarter but Q2 revised lower.

More details:

  • Manufacturing rose 2.8%, most since Q4 2012
  • Food/beverage/tobacco gained 4.7%
  • 9 of 11 industry groups rose
  • Business services +2.2%
  • Wholesale trade +2.2%
  • Construction down 2.9% but it was largely due to heavy industry, not housing
  • Investment +2.7%
  • Exports +1.9%
  • Imports -2.8%

That strength in manufacturing is encouraging to those who believe a weak NZD will help the economy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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