NZ Treasury: Continued weakness in business confidence to weigh on domestic economic growth, Kiwi around 0.6300

New Zealand’s (NZ) Treasury is out with its monthly economic indicators report, with the key highlights found below.

Continued weakness in business confidence to weigh on domestic economic growth.

Unemployment reaches 11-year low at 3.9% for the June quarter of 2019.

Commodity prices and visitor numbers fell, which may reduce export receipts.

Renewed US-China trade tensions lead to significant market volatility.

The global slowdown in manufacturing continues, but shows little sign of spilling over into services.

The Kiwi keeps its range near 2-month lows of 0.6489 amid the US-China trade escalation and growing NZ economic risks.