“Households spent more on accommodation, eating out, and purchasing big ticket items such as furniture, audio visual equipment and motor vehicles,” Stats NZ accounts manager Paul Pascoe said. The growth followed a disappointing 1 per cent drop in GDP in the December quarter and immediately fuelled speculation that the Reserve Bank will need to consider raising the Official Cash Rate from 0.25 per cent earlier than expected.
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The Monitor looks at how individual parts of New Zealand s economy have rebounded since the Covid-19 pandemic hit. Video first published in April 2021. Most economists have been expecting the central bank to start tightening rates around the middle of next year.
When is New Zealand GDP report and how could it affect NZD/USD?
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NZD/USD: Corrective pullback capped below 0 7150 amid mixed clues
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