New Zealand Treasury says growth likely to fall below budget forecasts


The monthly economic indicators report

The New Zealand monthly economic indicators report from the Treasury Department highlighted that growth is likely to miss government forecasts.

“On balance, weaker-than-forecast investment and services exports are likely to see overall New Zealand GDP growth fall below Budget forecasts,” the report said.

There are some positives as well with the report highlighting that activity in housing may be accelerating and that manufacturing and services PMIs offer an “early indication that GDP growth may be leveling off, following a sustained period of slowing.”

For me, the NZD/JPY chart is looking better. I sense there will be some jitters in the first week this month but the uptrend with minimal resistance is compelling.


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