New Zealand Gross Domestic Product (YoY) below expectations (1.7%) in 4Q: Actual (1.3%)

AI Briefing

• – New Zealand's GDP growth slowed more than expected in the fourth quarter of 2022, with a year-over-year growth rate of 1.3% compared to 1.7% forecast.
• – The decline was attributed to a decrease in consumer spending and business investment.
• – The Reserve Bank of New Zealand's monetary policy will likely remain unchanged due to the slower-than-expected GDP growth.