XE Data Update - NZ 3Q GDP Release

The NZ GDP for 3Q has just been released.

The GDP for 3Q came in better than forecast overall:

Adjusted GDP 3Q/ Annual:

GDP +0.7% / +2.3% Consensus +0.5% / +2.3%

However, 2Q GDP number was revised lower to +0.1% from +0.5%.

The NZD spiked higher in immediate response, but soon came back off on the revised lower 2Q GDP figures.

Retail industry growth, particularly spending on electronics such as appliances, mobile phones, and computers, and solid service industries growth were significant contributors to the rise in GDP.

Here is the link to the Statistics NZ for this GDP release:

https://www.stats.govt.nz/news/higher-retail-consumption-lifts-gdp

Current indicative levels are:

NZDUSD 0.6580 / 0.6505
NZDAUD 0.9600 / 0.9625
NZDEUR 0.5915 / 0.5940
NZDGBP 0.5025 / 0.5050
NZDJPY 72.10 / 72.35

ends

© Scoop Media