NZ: GDP likely rose by 0.8% in the March quarter - Westpac

Michael Gordon, Acting Chief Economist at Westpac, estimates that NZ GDP rose by 0.8% in the March quarter, after a 0.4% rise in the December quarter.

Key Quotes

“Growth in the previous quarter was weighed down by declines in the primary sectors, which have partly unwound since then.”

“Construction was a weak spot for the March quarter, but we expect this to be temporary given the growing pipeline of building work.”

“The annual current account deficit is expected to widen to 3.0% of GDP, as weak export volumes countered a record high in the terms of trade.”