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VIEW: Westpac note that "Coronavirus....>

NEW ZEALAND
NEW ZEALAND: VIEW: Westpac note that "Coronavirus is likely to have a bigger
economic impact on New Zealand than SARS. Our baseline scenario is that March
quarter GDP will be 0.6% lower than previously thought (now +0.1% Q/Q). This
assumes a two month ban on travel and one month of disruption in China's
factories. In this scenario there would be little lasting economic damage.
Late-2020 would feature high quarterly GDP growth as the economy rebounds. China
is now much more important to the New Zealand economy than in 2003. Quarantine
efforts this time are much more draconian than they were during SARS."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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