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MNI BRIEF: NZ Economy Shrinks 1%, 80bp More Than Expected

MNI (SYDNEY) - New Zealand’s economy contracted 1% over Q3, 80 basis points more than the market's and the Reserve Bank of New Zealand’s forecasts, Stats NZ data showed Thursday. 

“Expenditure on GDP fell 0.8% in the September 2024 quarter, following a 0.8% fall in the June 2024 quarter,” Stats NZ noted. “Expenditure on GDP rose 0.1% over the year ended September 2024 compared with the year ended September 2023.”

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MNI (SYDNEY) - New Zealand’s economy contracted 1% over Q3, 80 basis points more than the market's and the Reserve Bank of New Zealand’s forecasts, Stats NZ data showed Thursday. 

“Expenditure on GDP fell 0.8% in the September 2024 quarter, following a 0.8% fall in the June 2024 quarter,” Stats NZ noted. “Expenditure on GDP rose 0.1% over the year ended September 2024 compared with the year ended September 2023.”

Keep reading...Show less