NZ: Expect solid broad-based GDP growth - TDS

Research Team at TDS, suggests that we should expect solid broad-based NZ’s GDP growth, except for a slump in plant and equipment investment shaving off at least -½ppts.

Key Quotes 

“Consumption (+0.6ppts) and dwelling construction (+0.4ppts) will be the big contributors to growth. Annual growth will be solid at 2.6%, but the RBNZ is looking at the exchange rate, not growth, for the next move in the cash rate.

AUD: All job vacancies series suggest Australis’s employment growth tracking around 2% y/y, and hence a lift of around +18k in the month is cons is tent with that view. Whether full– or part-time is another matter, but recent trends suggest a recovery in full-time employment is overdue soon.”