New Zealand economy's growth figures were below expectations in the last quarter of 2017, with gross domestic product (GDP) growing by 0.6% on quarterly basis, the same as the third quarter of the same year, versus expectations of 0.7% growth. On a yearly basis, the economy grew by 2.9% against expectations of 3.1%, while the third quarter reading grew by 2.7%.
New Zealand economy grew 2.9 percent in 2017 compared with 2016 when the economy grew by 4 percent. Household spending rose by 1.2% in the last quarter of 2017, which represents the largest part of the New Zealand economy around 60%.
NZDUSD fell after the release of the data to be traded currently at levels of 0.7309 near the lowest levels since the beginning of trading today.
