Breaking: New Zealand Q4 GDP: 0.5% QoQ (expected 0.5%, prior 0.7%)

NZ ANNUAL AVERAGE PROD-BASED GDP +2.3 PCT IN FOURTH QTR VS YEAR AGO (REUTERS POLL +2.2 PCT).

• NZ Q4 S/ADJ EXPENDITURE-BASED GDP +0.2 PCT ON PVS QUARTER (REUTERS POLL +0.6 PCT)
• NZ Q4 S/ADJ PRODUCTION BASED GDP +1.8 PCT ON SAME QTR YEAR AGO (REUTERS POLL +1.8 PCT)
• NZ Q4 S/ADJ PRODUCTION BASED GDP +0.5 PCT ON PVS QUARTER (REUTERS POLL +0.5 PCT)

Editor's notes

New Zealand Q4 GDP: Three months and an age ago
Q4 GDP expected to slip to 1.8% y/y, 0.5% q/q. Reserve Bank of New Zealand reduced its base rate 75 basis points to 0.25% on March 15. Government to spend the equivalent of 4% of GDP on economic stimulus fighting virus slowdown.

Description

The Gross Domestic Product released by the Statistics New Zealand is a measure of the total value of all goods and services produced by New Zealand. The GDP is considered as a broad measure of New Zealand economic activity and health. Generally speaking, a high reading is seen as positive (or bullish) for the NZD, while a falling trend is seen as negative (or bearish) for the NZD.