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New Zealand GDP Preview: Scarce room for good news

Statistics New Zealand will release the fourth-quarter GDP data at 21:45 GMT on Wednesday, March 18. Joseph Trevisani, an analyst at FXStreet with the preview. 

Key quotes

“Gross domestic product is expected to fall to 1.8% in the fourth quarter annual measure from 2.3% in the third quarter. On a quarterly basis, GDP is predicted to slip to 0.5% from 0.7% in the previous quarter.”

“It proves to be stronger than forecast that will be measured against the fast-moving developments from the Coronavirus. If it is worse, then the expected decline in the first and second quarter begins from a lower level.”

“The kiwi has been falling against the US dollar since the beginning of the year and has dropped to its lowest level since May 2009. Improvement here will likely have to wait for an end or at least a mitigation of the current fears.”

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