Surprise contraction in economy, outlook weaker
New Zealand’s economy slowed faster than expected in the September quarter, with a 0.3% contraction.
Will this be enough to stop the RBNZ from further OCR hikes next year?
New Zealand’s economy contracted by a surprise 0.3% in the September quarter, worse than expected, while June-quarter growth was revised downwards.
Stats NZ said all goods-producing industries were weaker in the September quarter, led by a fall in manufacturing.
It said that decline was driven by
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