NZ government update on the economy
Says the Treasury (in summary)
- GDP grew 0.6% in the September quarter, with solid construction growth. Revisions to GDP showed stronger growth over the past two years.
- Early indicators for the December quarter are mixed, with solid electronic card spending but falls in confidence measures.
- The current account deficit narrowed in the September quarter, the goods deficit narrowing to a three year low. Recent trade data shows the annual goods deficit will narrow further in the December quarter.
- The IMF revises global growth outlook upwards on the back of a recovering global economy, stronger demand, increasing confidence and US fiscal stimulus boosting investment.
Yes, reports since the election have been mixed. More recently, though, indicators have been generally on the up again.
NZD/USD not doing too much on the session - its more or less flat compared with late Friday levels..