It has been a long time since I’ve closely followed New Zealand macroeconomic statistics – but I was a bit surprised seeing the headline “GDP jump of 14 per cent completes NZ’s ‘V’-shaped recovery“.
Cliffs notes to this post – it was a strong result, but September likely wasn’t the strongest quarter on record, and real economic activity is still probably down a little bit. You gotta be careful with seasonal adjustment during “shock and turning points” – and Stats NZ did actually even tell us this in their release!
Update: As Economissive notes I can’t read and this was up on a year ago – good shout this was a dumb thing to miss. Dang that is a strong GDP result!Read more