New Zealand Q4: miss of 0.2%, Kiwi lower

The Gross Domestic Product Q4 data released by the Statistics New Zealand came in as 0.6% q/q vs. expected +0.8%. The RBNZ had been expecting a quarterly gain of 0.7%, after 0.6% in Q3, referencing their February Monetary Policy Statement.

• 0.6% q/q expected +0.8% q/q, prior +0.6%.
• 2.9% y/y expected +3.1% y/y, prior +2.7%.

Key notes:

• NZD to remain underpinned - UOB
• NZDUSD Forex Signal

About Gross Domestic Product Q4

The Gross Domestic Product released by the Statistics New Zealand is a measure of the total value of all goods and services produced by New Zealand. The GDP is considered as a broad measure of New Zealand economic activity and health. Generally speaking, a high reading is seen as positive (or bullish) for the NZD, while a falling trend is seen as negative (or bearish) for the NZD.