He New Zealand’s Gross Domestic Product grew 14% in the third quarter of the year, exceeding the expected 13.5%. In the second quarter, GDP stood at -11% (revised from -12.2%).
On a year-on-year level, GDP increased 0.4%, improving the expected -1.3% and the previous -11.3% (revised from -12.4%).
NZD / USD reaction
NZD / USD has made a solid upward move following the release of good New Zealand GDP, fueled at the same time by risk appetite undermining the dollar in markets.
The kiwi is up about 70 pips so far this Thursday, rising above 0.7100 to new highs since April 2018 at 0.7155. At time of writing, the NZD / USD is trading above 0.7153, gaining 0.76% on the day.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
