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4 Mar 2013
Forex Flash: Key Kiwi data ahead - BNZ
There are 3 key quarterly economic surveys in New Zealand this week, which according to Craig Ebert, economist at Bank of New Zealand, will help define the Q4 GDP report estimates for New Zealand due on March 21.
"We have our mind on revising up our Q4 GDP growth estimate, presently it’s 0.7% - on a production basis - but our expenditure GDP measure – built on such things as private consumption, investment, inventories, public expenditure and net exports - is now well through 1.0%. This week’s data could thus help a lot with the cross-referencing" Crag notes.
In any case, "there is a good chance of New Zealand’s GDP advancing better than that of Australia’s for the final quarter of calendar 2012. That’s our gut feel, at least. We just need some hard data to back it up" Mr. Ebert adds.
"We have our mind on revising up our Q4 GDP growth estimate, presently it’s 0.7% - on a production basis - but our expenditure GDP measure – built on such things as private consumption, investment, inventories, public expenditure and net exports - is now well through 1.0%. This week’s data could thus help a lot with the cross-referencing" Crag notes.
In any case, "there is a good chance of New Zealand’s GDP advancing better than that of Australia’s for the final quarter of calendar 2012. That’s our gut feel, at least. We just need some hard data to back it up" Mr. Ebert adds.