New Zealand's gross domestic product is expected to have slowed 0.4% quarte...
WELLINGTON - New Zealand’s gross domestic product is expected to have slowed 0.4% quarter-on-quarter in the three months to June, a Reuters poll showed, reinforcing the case for further stimulus from the central bank despite a sharp interest rate cut in August.
The data comes on the back of a series of negative news headlines in New Zealand, with business confidence and consumer confidence at record lows, with the Pacific country expressing concern over the impact of the international trade tensions, a slowing Chinese economy and Brexit. Although the bank is seen likely to keep rates on hold at the next meeting on Sept. 25, several economists expect it will cut rates in November.
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