NZ: Q2 GDP growth expected to rebound - Westpac

New Zealand’s GDP growth is expected to rebound in Q2 following a couple of quarters of softer growth, according to analysts at Westpac.

Key Quotes

“We are forecasting a 0.8% rise in Q2 GDP, which is below the RBNZ’s forecast of 0.9%.”

“In part, the expected firmness in Q2 reflects a rebound from the temporary earlier softness in the agricultural and transport sectors. Moreover, firmer retail spending in Q2 underpinned by strong population growth and tourism is expected to lend a boost to GDP growth.”

“Balanced against these upside factors, we are seeing signs of softness within the construction and manufacturing sectors.”