Wednesday, 26th September, 2018

On Page 2 this week we break down our expectations for Q2 GDP (released on Thursday at 10:45am). We are expecting growth to have held up in Q2, with 0.9% qoq expected. Our Chart of the Week shows that accommodative monetary conditions are likely to continue to support NZ GDP growth over the remainder of 2018. Although Q2 GDP will be the highlight locally, this week’s GDT auction is also likely to garner some interest after Fonterra’s milk price forecast adjustment last week. Meanwhile, offshore, the data calendar is relatively light with the Bank of Japan’s interest rate announcement on Wednesday the key release.


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