Less pptimism in the New Zealand economy - Westpac

Analysts at Westpac, commenting on how the New Zealand economy's momentum appears to have eased over the course of 2017 estimated that GDP (released on Thursday 15 March) rose by 0.6%, a similar pace to the September quarter. 

Key Quotes:

• The December quarter national accounts are expected to highlight the slowing in the New Zealand economy’s momentum over the last year.
• We expect a 0.6% rise in GDP for the quarter, similar to the subdued pace in the previous quarter.
• Retail and wholesale turnover were relatively brisk, but the services sectors were generally subdued, milk production fell, and the construction sector faced constraints on growth.
• The current account deficit is expected to widen slightly, but it remains well within the range of what would be considered sustainable.