The Markets

NZ shares down on ‘staggering’ GDP number

Thursday 16th of September 2021

The S&P/NZX 50 Index dropped 52.98 points, or 0.4%, to 13,079.51. Turnover was $158 million.

Head of research at BNZ, Stephen Toplis said the number was “staggering” and showed there was more excess demand in the economy than previously thought.

This gives the Reserve Bank of New Zealand, which was already eyeing a rate hike, even more reason to hit the economic...

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