19.03.2015 - New Zealand's GDP showed strong growth

The price of the New Zealand dollar yesterday showed steady growth amid weakening of the US dollar, as well as in connection with the publication of statistics on GDP growth in the 4th quarter of last year. Thus, for the year, GDP grew by 3.5% against the previous estimate of 3.2% growth. At the same time, growth in Q4 compared to Q3 was 0.8%, in line with analysts' forecasts but was 0.2% previous less than the previous estimate. It is worth noting that the growth drivers were the hotel business and tourism, industry and real estate. In recent months we have seen steady improvement in the trade balance, which has a positive effect on the New Zealand dollar. On the other hand the strengthening of the US dollar and the deterioration of the growth in China, continue to put pressure on the stock of the national currency of New Zealand. We forecast a fall in price in the near future, but we need additional signals to determine the medium-term.

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