New Zealand Treasury is no longer forecasting a recession for the country

The New Zealand government budget has been released.

• Sees 2023/24 GDP GDP Gross Domestic Product (GDP) is the monetary value of all the goods and services produced within a country's borders in a specific period of time, typically a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often presented in an annualized or year-over-year format.There are three ways to calculate GDP:The expenditure approach: GDP is calculated by adding up all the spending on goods and services within a country. This includes consumer s Gross Domestic Product (GDP) is the monetary value of all the goods and services produced within a country's borders in a specific period of time, typically a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often presented in an annualized or year-over-year format.There are three ways to calculate GDP:The expenditure approach: GDP is calculated by adding up all the spending on goods and services within a country. This includes consumer s Read this Term 1.0% ( HYEFU -0.3%)
• Unemployment rate seen at 5.0% in 2023/24 ( HYEFU 5.5%)
• NZ treasury is no longer forecasting the country to move into recession
• NZ government forecast to return to surplus in 2025-26, one year later than previous forecast
• NZ finmin Robertson says operating package slightly higher due to impact of weather events
• NZ Treasury says recent widening of current account Current account While the current balance of your investing account might be your focus, for a country a current account balance is something entirely different.The current account is the broadest measure of a country's international transactions, including not only trade in goods and services (trade balance), but also income earned on investments abroad and income paid on foreign investments, as well as transfers such as foreign aid and remittances.The calculation of the current account deficit takes into acco While the current balance of your investing account might be your focus, for a country a current account balance is something entirely different.The current account is the broadest measure of a country's international transactions, including not only trade in goods and services (trade balance), but also income earned on investments abroad and income paid on foreign investments, as well as transfers such as foreign aid and remittances.The calculation of the current account deficit takes into acco Read this Term deficit expected to reverse

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HYEFU was the Half Year Economic and Fiscal Update

NZD/USD is barely changed for the session.