Economists downbeat on GDP, watch out for the FOMC

The US Federal Reserve's FOMC could keep the kiwi under pressure. (Image: Getty).

Tue, 11 Jun 2024

Economists are starting to forecast another domestic economic contraction against a backdrop of weak data but the main focus this week is squarely on the US Federal Reserve. Westpac Bank expects a 0.2% fall in New Zealand’s gross domestic product for the March quarter versus December. The Reserve Bank of NZ had forecast 0.2% growth. “The New Zealand economy is only just now moving into ‘cool’ territory, given how overheated it had become in previous years,” said senior economist Michael Gordon. Acco...

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