Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

XE Data Update - NZ 3Q GDP Release


The NZ GDP for 3Q has just been released.

The GDP for 3Q came in better than forecast overall:

Adjusted GDP 3Q/ Annual:

GDP +0.7% / +2.3% Consensus +0.5% / +2.3%

However, 2Q GDP number was revised lower to +0.1% from +0.5%.

The NZD spiked higher in immediate response, but soon came back off on the revised lower 2Q GDP figures.

Retail industry growth, particularly spending on electronics such as appliances, mobile phones, and computers, and solid service industries growth were significant contributors to the rise in GDP.

Here is the link to the Statistics NZ for this GDP release:

https://www.stats.govt.nz/news/higher-retail-consumption-lifts-gdp

Current indicative levels are:

NZDUSD 0.6580 / 0.6505
NZDAUD 0.9600 / 0.9625
NZDEUR 0.5915 / 0.5940
NZDGBP 0.5025 / 0.5050
NZDJPY 72.10 / 72.35

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank: RBNZ To Implement $30bn Large Scale Asset Purchase Programme Of NZ Govt Bonds

The Monetary Policy Committee (MPC) has decided to implement a Large Scale Asset Purchase programme (LSAP) of New Zealand government bonds. The negative economic implications of the coronavirus outbreak have continued to intensify. The Committee ... More>>

ALSO:

Elevate NZ: Venture Fund To Lift Productivity

The Government’s new $300 million venture capital fund - announced in last year’s Budget – is now open for business as the Elevate NZ Venture Fund. Finance Minister Grant Robertson says lifting New Zealand's productivity requires well-functioning ... More>>

ALSO:


COVID-19: Case Confirmed In NZ – Expert Reaction

After spreading across the globe for months, the first case of COVID-19 has been reported in New Zealand. The Ministry of Health says the risk of a community outbreak is low, due to their preparedness and the high awareness of the disease. The Science ... More>>

ALSO:

Agriculture: New Legislation To Boost Organics

New organics legislation will boost consumer confidence and help grow an innovative sector, says Food Safety Minister Damien O’Connor. “The Organics Product Bill, introduced to Parliament this week, aims to increase consumer confidence when purchasing ... More>>

ALSO:

Biodiversity Policy: Misinformation Circulating

Forest & Bird is concerned at misinformation circulating regarding a policy statement aimed at protecting New Zealand’s unique biodiversity. The National Policy Statement for Indigenous Biodiversity is being consulted on by the ... More>>

ALSO: