15.09.2016 - New Zealand's GDP grew by 0.9% in the second quarter
In New Zealand was published a report on the growth of GDP for the second quarter of this year, which totaled 0.9%, which is 0.2% less than analysts' forecasts. During the year, the economy expanded by 3.6%, vs. expected 3.7%. It is worth noting that the growth also totaled 0.9% in the first quarter. The greatest activity was observed in the construction sector, which grew by 5.0% and exports increased by 4.0% due to dairy products, fruits and meat. Despite the positive news, the New Zealand dollar showed a minimum price change, due to the expectation of the important statistics from the US and the RBNZ statement next week. Our medium-term outlook for the New Zealand currency remains negative with a potential of decline to 0.6820 and 0.6600.