GDP (sa) 3.0% q/q
expected 3.2%, prior -3.7%
GDP 3.1% y/y
expected 3.3%, prior -0.3%
A good bounce back for the NZ economy in these (old) numbers.
Capacity constraints (labour and supply chain-related) along with rising prices will be a negative for growth going forward but these will not stop further RBNZ rate hikes.
