Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
MNI (SYDNEY) - The New Zealand economy shrank by 0.2% q/q over Q2, 20 basis points less than market expectations and 30bp less than the Reserve Bank of New Zealand’s most recent projections, Stats NZ data showed Thursday.
GDP per capita fell 0.5% q/q, while real gross national disposable income was flat at 0.0%.
The move lower follows Q1’s 0.1% growth.
Retail trade and accommodation fell 1.3%, while the agriculture, forestry, and fishing sector was down 1.4%. Wholesale trade declined 1.3%.
The RBNZ surprised markets in August, cutting the Official Cash Rate 25bp to 5.25%. However, the Bank could consider a pause to its easing cycle when it next meets on Oct 9, according to one former senior official. (See MNI INTERVIEW: RBNZ To Debate Pause To Cuts- Ex Dep Governor)
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.