Thursday, 26th April, 2018
The NZ economic outlook is solid, supported by a number of tailwinds including population growth, income growth and low interest rates. However, risks to the outlook remain. One such risk is the potential for labour capacity constraints to slow GDP growth. This week on we use recently-published productivity data to explore this in more detail.
Key local events for the week include Tuesday’s travel and migration data and Fridays’ trade balance data.
Offshore, trade tensions and remain elevated and are likely to continue to drive market sentiment.
Global data this week includes the ECB and BOJ rate announcements on Friday, Australian CPI on Tuesday and US Q1 GDP overnight Friday.