US retail sales are sluggish and dragging on US GDP growth. China’s economy outperforms expectations, so ANZ Research lifts its China GDP growth forecasts for 2025 and 2026. New Zealand’s housing market is stirring, but slowly.
In our bonus deep dive interview, ANZ China Strategist Zhaopeng Xing analyses China’s fiscal response to soften the economic impact of US tariffs.
5 things to know in 5 minutes:
US retail sales in February were sluggish as consumers are nervous about the economic and trade turmoil around Donald Trump, says ANZ Economist Bansi Madhavani.
ANZ Research has revised up its growth forecasts for China after stronger than expected industrial production and retail sales data for February, says ANZ’s Chief Economist for Greater China Raymond Yeung.
China’s Government has released its ‘Special Action Plan for Boosting Consumption,’ which Raymond says will help grow the economy.
The BusinessNZ-BNZ PSI survey of New Zealand’s services sector found a return to contraction in February. ANZ Senior Economist Miles Workman says the series is volatile and an economic recovery remains on track.
New Zealand house prices rose 0.4% in February, which Miles says is consistent with ANZ Research’s forecast for a 6% rise in 2025.
Cheers,
Bernard
PS: Catch you tomorrow with more on the euro’s strength.
