Ahead of New Zealand’s (NZ) official Gross Domestic Product (GDP) data release this week, the New Zealand Institute of Economic Research (NZIER) is ou
data release this week, the New Zealand Institute of Economic Research is out with its Consensus Forecasts of the country’s growth and inflation numbers.Annual average GDP growth is forecast to slow to 0.4 percent in the year to March 2024 before recovering to just 1.1 percent in 2025.
Added to this is the downside risk from weaker demand for New Zealand exports, primarily due to the weaker growth outlook in China. The inflation outlook for the year ending March 2024 has been revised higher. Annual CPI inflation is forecast to ease to 4.3 percent before decreasing to 2.4 percent in 2025.At the time of writing, NZD/USD is paring back gain on the grim outlook for the NZ economy, adding 0.15% on the day to trade at 0.5908, down from intraday highs of 0.5919.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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