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Business Weekly Economic Report
All I want for Christmas is growth
Monday, 21 December 2009
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Our Q3 GDP forecast is for a flat quarter, slightly below the market median of 0.3%. The RBNZ’s December Monetary Policy Statement included a 0.4% forecast. The range of expectations is unusually wide for this release, ranging from -0.5% to +1%.
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But, even if Q3 GDP records a pretty flat result, there are increasing signs that the economy has been gathering momentum as the year draws to a close. Confidence levels are much higher than 6 months ago, anecdotes suggest the labour market is starting to stir a little, and housing construction is starting to pick up from a low base.
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This is our last Economic Weekly for 2009. The first Economics Weekly for 2010 will be on January 11. We wish you a safe and merry Christmas and New Year.
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Report Prepared by:
Jane Turner
ASB Economist
Phone: +64 9 374 8185
Fax: +64 9 302 0992
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