NZ economy probably grew 0.6% in 1Q but more rate cuts still expected

Mon, 17 Jun 2019

By Rebecca Howard June 17 (BusinessDesk) - Strong building work and better-than-expected retail sales data likely underpinned New Zealand’s economic growth in the March quarter, but economists are still picking more rate cuts. Economists polled by Bloomberg predict gross domestic product expanded 0.6 percent in the three months ended March 31 and 2.4 percent on from a year earlier. The Reserve Bank is forecasting quarterly growth of 0.4 percent. ASB Bank chief economist Nick Tuffley is expecting growth of 0.5 percent as “sunny and rela...

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