New Zealand Q3 GDP -0.3% q/q (vs. +0.2% expected)

<p>Data for New Zealand economic growth in the July – September quarter of 2023 … is very ugly.</p><p>The priors were revised lower from 0.9% q/q and 1.8% y/y.</p><p>Stats NZ highlight the key drivers:</p><p>Downwards drivers -– change in production:</p><ul><li>Manufacturing was down 3.4 percent</li><li>Transport was down 4.5 percent</li><li>Construction was down 1.7 percent</li><li>Wholesale trade was down 1.9 percent</li></ul><p>Upwards drivers – change in production:</p><ul><li>Healthcare and social assistance was up 2.3 percent</li><li>Rental, hiring and real estate services was up 1.0 percent</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.