The New Zealand Treasury’s (NZ) latest economic assessment showed on Tuesday that it “does not expect activity to have increased much in the last quarter.”
Additional conclusions
June quarter GDP fell 0.2%, less than expected, with population growth masking economic weakness.
With a significant amount of data due to be released in the next two weeks, we should know more about where we are in the cycle.
Consumer and business expectations are improving, indicating a possible economic bottom.
The current account deficit remained high at 6.7% of GDP due to the slow recovery of service exports and the strong volume of imports.
OECD forecasts point to stable global growth, with falling inflation and supportive policies in China and the US.
The US and China implemented easing policies to support their economies.
Market reaction
NZD/USD was last seen trading at 0.6340, down 0.09% on the day, slightly undermined by earlier headlines.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
