NZ: Q1 GDP likely expanded by 0.4% - ANZ

Analysts at ANZ are expecting that the New Zealand economy expanded 0.4% q/q in Q1, in line with the RBNZ’s May MPS forecast.

Key Quotes

“This is a touch softer than our earlier forecast (0.5% q/q).”

“Absent revisions this result would see annual growth moderate 0.1%pt from Q4 to 2.2% y/y.”

“The seasonally adjusted current account deficit is expected to widen $0.5bn in the quarter, with the annual deficit remaining stable as a share of GDP at 3.7%.”