Treasury releases September economic indicators
The September Monthly Economic Indicators (MEI) was
published on the Treasury Website at 2pm.
Growth in the
June quarter was higher than forecast in the Pre-election
Economic and Fiscal Update with strong non-residential
investment contributing to the strength in domestic demand.
The strength in domestic demand, coupled with subdued export
performance, resulted in a widening of the current account
deficit. August trade data points to a further increase in
the current account deficit. In addition inflation is
increasing. We still predict that the imbalances will
gradually unwind in a fairly benign manner. However, if
imbalances materially increase, the possibility of the
economy taking a more disruptive adjustment path increases.
Read more at http://www.treasury.govt.nz/mei/default.asp
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