FXStreet (Mumbai) – The latest New Zealand Institute of Economic Research (NZIER) “Consensus Forecasts” published on Monday shows forecasters have trimmed growth expectations slightly since March quarter.
As per the new forecasts, annual average economic growth is expected to ease slightly to 2.8% in the year to March 2016 from the previous forecast of 2.9%. The 2017 growth forecasts were also revised lower to 2.7% from 2.8%. Forecasters expect 0.6% quarterly GDP growth in the March 2015 quarter, when the data is released on 18th June.
The NZIER report further says, activity indicators over the past quarter have been mixed, with global dairy prices continuing to fall but household spending remaining strong.
(Market News Provided by FXstreet)