Economic growth in New Zealand has been decelerating since the middle of 2016 even before the general election of September 2017 that brought a Labour-led government into power.
GDP is expected to have expanded by 0.7% q/q in the second quarter, which, if confirmed, would make it the fastest pace in a year. However, on a 12-month basis, growth is forecast to slow to 2.5% from 2.7% in the prior quarter.
Stronger exports and higher agricultural output likely contributed to the expected bounce in growth.