Third-quarter economic growth bounce out of lockdown, +14.0% q/q sa
- expected +12.9% q/q, prior -12.2%
+0.4% y/y ... this is huge, growth is up y/y. New Zealand managed COVID-19 very well indeed and it appears to paying off in GDP figures.
- expected -1.8% y/y, prior -12.4%
At the margin this is another indication the RBNZ may well delay further easing moves. The Bank has committed to holding rates steady to MArch next year and if data continues to improve in NZ that might well stretch further out.
NZD liking it, but a subdued response so far:
more to come
