Economic Bulletin Preview Of March Quarter GDP

Westpac forecasts a 1% GDP increase for New Zealand's March quarter, supported by strong manufacturing and household spending. However, the result includes significant seasonal distortions and does not yet reflect the economic impact of the Iran conflict.

Key Takeaways

• 1.Westpac expects a 1% rise in GDP for the March quarter, up from a previous forecast of 0.8%.
• 2.Seasonal distortions, specifically a large 'balancing item', are overstating the underlying pace of growth.
• 3.The Iran conflict, which began in late February, did not significantly impact March quarter economic activity.

Table of Contents

• A promising start, until…
• Forecast details
• Contact
• Things you should know.
• Disclaimer.
• Additional country disclosures:

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