New Zealand Third Quarter GDP Missed Estimates, Economic Growth Continues

Economy expanded 0.2 percent in the third quarter, Statistics New Zealand reported today at 10:45 local time. The quarterly number missed the average estimate by 0.2 percent. New Zealand dollar fell against the yen and the US dollar after the report though the depreciation was somewhat limited. I made a very small profit by selling the NZDUSD after the news.

New Zealand’s Economy Surprises the Markets

An economic report showed that New Zealand’s GDP surprisingly turned positive in the second quarter (on the quarterly basis). Another report this weak also showed that the current account deficit, as a percentage of the GDP, dropped to 5.9 percent, well below the 7.4 percent which was the average estimates. New Zealand dollar appreciated in both cases. The following carts show the reactions from the Forex market.