NZD popped on the data, back little changed now - here's a wee niggle with the data

New Zealand economic growth data for the third quarter showed a solid beat q/q:

• New Zealand Q3 GDP: 0.7% q/q (vs 0.5% expected)

Out at the same time was the November trade balance:

• New Zealand trade deficit more than expected (overshadowed by the good GDP data)

NZD was marked up on the data release, but has since retraced fully:

Something to note on the GDP result, Q2 saw a dramatic revision lower, from 0.5% to 0.1% q/q.

I doubt there will be too much concern expressed over the GDP from April to July …. its long enough ago to have diminished relevance and the beat in Q3 is the headline, but a niggle nonetheless.