NZD marked lower on the data
Q3 GDP +0.3% q/q
- 0.6% expected, 1.0% in Q2
for the y/y, up 2.6%
- expected 2.8% y/y, prior 3.2%, revised up from 2.8%
The RBNZ had a forecast of 0.7% growth for Q3, so the actual result is less than half that. This should dial back any expectations of a hike from the RBNZ (expectations of any move from the RBNZ are low though, on hold for a while to come is the best guess).
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Trade balance data for November out at the same time, I'll pop that on a separate post
