New Zealand Treasury: First quarter GDP may miss forecast

New Zealand Treasury is out with a warning that first-quarter gross domestic product (GDP) may miss budget forecasts but also added that growth will likely pick up later this year. 

The monthly economic update released today said, "since our forecasts were finalized, our tracking of March quarter data including retail sales volumes, suggest March quarter real GDP growth may fall short of the 0.7% Budget Economic and Fiscal Update (BEFU) 2018 forecast."