NZ: Expect a 0.4% rise in Q1 GDP - Westpac

Michael Gordon Senior Economist at Westpac, suggests that they expect a 0.4% rise in New Zealand’s March quarter GDP.

Key Quotes

“This would mark a third consecutive quarter of subdued growth in activity.”

“We have long been highlighting the prospect of a soft patch in growth over the first half of this year. In contrast, we think the Reserve Bank and the Treasury have been too optimistic on near-term growth.”

“The current account deficit is expected to widen slightly, due to some softness in exports that may prove to be temporary.”