MNI BRIEF: NZ Economy Grows 0.7% Over Q4

New Zealand’s economy exited recession over Q4, growing 0.7% q/q, 30 basis points higher than expected, and up from Q3’s 1% contraction, data from Stats NZ showed Thursday. 

GDP fell 0.5% y/y, down from Q3’s 0.1% increase, while expenditure on GDP rose 0.8%, following a 0.9% fall in the September 2024 quarter. 

The Reserve Bank of New Zealand believes it can stimulate the economy sufficiently without dipping below neutral. (See MNI INTERVIEW: RBNZ Deputy Sees OCR Dip To Neutral, No Further)