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Westpac's unchanged view is that "the...>

- Bonds & Currency News | Market News" >
NEW ZEALAND: Westpac's unchanged view is that "the next phase for the New
Zealand economy will be a modest and temporary pickup in growth on the back of
government spending. Ironically, that view probably makes us optimists relative
to the fickle winds of general sentiment, which have suddenly become very
negative. From a personal perspective, that will be a nice change after being
the relative pessimist for so long! However, we view this pickup as temporary.
Beyond 2019, we continue to expect a gradual cooling in economic growth. The
economic slowdown to date has been a domestic spending phenomenon. The flipside
of lower spending is higher saving, as evidenced by New Zealand's shrinking
overseas net debt position. What we are now witnessing is the long-awaited
rebalancing in the New Zealand economy. The economy may be slower, but it is
gradually moving onto a surer long-run footing."
- Bonds & Currency News | Market News" >
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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