Treasury releases May monthly economic indicators
The May Monthly Economic Indicators (MEI) was published on the Treasury Website yesterday at 2pm. The report provides a summary of recent economic events .
Data released during May helped firm up our view in the Budget Update that GDP increased by 0.4% in the March quarter, although there are still some indicators yet to be released. Although the economy is slowing, some sectors are still experiencing reasonable strength, such as the retail industry and some other parts of the services sector which we think will make solid contributions to GDP growth.
Read more at http://www.treasury.govt.nz/mei/default.asp