Analysis by Region - Asia Pacific
We've cut our 2024 GDP growth forecast for New Zealand to just 0.6% from 1.0% to reflect the sustained weakness in GDP growth in H1. Weakness in demand contributed to the Reserve Bank of New Zealand's decision to kick off its cutting cycle in August. We expect the RBNZ will deliver further cuts in the months ahead, which should support the rise in GDP to 2.2% next year.
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