Economy Watch
1,329 episodes - English - Latest episode: 5 days ago -We follow the economic events and trends that affect New Zealand.
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James Foster - the New Zealand EV, or 'batteries on wheels', scene
June 28, 2024 21:00 - 47 minutes - 43.7 MBThe first New Zealand and international wave of electric vehicle (EV) uptake is probably over, with cheaper cars and better public charging infrastructure required for further major growth in the uptake of these "batteries on wheels," says James Foster. In a new episode of interest.co.nz's Of Interest podcast, Foster, who runs the EVDB website, says EVs reaching price parity with internal combustion engine (petrol) vehicles, will be a very significant development. The rise of Chinese EVs s...
Global food stress low
June 26, 2024 19:38 - 4 minutes - 4.37 MBKia ora, Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news food price signals belie talk of impending trouble. But first, US mortgage applications were virtually unchanged last week (+0.8%) from the week before, taking them to -13% lower than the same week a year ago. But at least it was a third week of rises, even if smal...
Doubts remain in the US & Canada that inflation is beaten yet
June 25, 2024 19:37 - 5 minutes - 5.37 MBKia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news questions remain about whether inflation's fall can be maintained. Today is another shadow day with mostly second-tier data released, but some of it is interesting all the same. First in the US, retail sales at physical stores were up +5.3% last week from the sam...
Eyes on some big risks
June 24, 2024 19:28 - 3 minutes - 3.42 MBKia ora, Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news a quiet data week is bringing more focus to larger systemic issues. Today, in the absence of key data releases, we should note that after the GFC, regulators moved aggressively to get banks out of holding riskier assets. But that space has been filled by non-bank fi...
China's investment momentum slows fast
June 23, 2024 19:16 - 6 minutes - 5.74 MBKia ora, Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news the pressure is on China to revive its fast-slowing momentum. First however, this week will bring some key American data covering durable goods orders and PCE inflation data on Friday (NZT), new and pending house sales, and the Conference Board's consumer sentiment s...
The northern world swelters
June 20, 2024 19:32 - 4 minutes - 3.98 MBKia ora, Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news that the start of Summer in the northern hemisphere brings excessive heat and ominous food security and immigration implications. But first, initial US jobless claims slipped slightly last week after the prior week's rise. They remain low at +227,000 even if the leve...
Cameron Bagrie: Why and how the pricing of risk versus the taking of risk by banks needs to change
June 20, 2024 19:30 - 26 minutes - 24.6 MBAsk Cameron Bagrie how to improve business and rural banking and some words reoccur in his answers. Three of them are "risk", "productivity", and "bankability." With two parliamentary select committees set to hold an inquiry into banking competition, the business and rural banking markets will feature, unlike in the Commerce Commission probe into competition in the personal banking market. In the latest episode of interest.co.nz's Of Interest podcast, Bagrie, now of Bagrie Economics and Cha...
Some very large global tensions start to boil hotter
June 19, 2024 19:41 - 4 minutes - 4.54 MBKia ora, Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news of some very large global tensions starting to boil hotter. But first, mortgage applications in the US rose by +0.9% in the second week of June, extending the +16% surge from the previous week, which was the sharpest weekly increase since the start of 2023. Their m...
Aussie rate cut hopes fade
June 18, 2024 19:43 - 4 minutes - 4.54 MBKia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news expectations for a rate cut any time soon in Australia have faded significantly after the RBA's MPS yesterday. But first, the overnight dairy auction brought slightly lower prices overall, down -0.5% although they were unchanged in NZD terms. WMP was sold in to we...
China loses steam on property drag
June 17, 2024 19:28 - 4 minutes - 4.33 MBKia ora, Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news the steam seems to be going out of the Chinese economy as their property sector woes just drag on and on. But first, although it is still retreating, the June New York factory survey improved sharply from May, with firms there increasingly positive about the next si...
Fiona Hall & Martin Dilly: Frustrations with & war stories from the world of anti-money laundering compliance
June 17, 2024 02:20 - 47 minutes - 43.2 MBBy Gareth Vaughan How seriously is the public sector taking the fight against money laundering and terrorism financing? This question comes up in a new episode of interest.co.nz's Of Interest podcast, featuring barrister and solicitor Fiona Hall and anti-money laundering auditor and consultant Martin Dilly. In a recent article the two raised concerns about impending job cuts to the team at the Department of Internal Affairs (DIA) tasked with supervising compliance with the Anti-Money Laun...
Data slippage in most major economies
June 16, 2024 19:18 - 4 minutes - 4.53 MBKia ora, Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news of some slippage in the world's largest economies. However, in the week ahead we will get central bank rate review decisions from China, Norway, the UK, and Switzerland. Of special interest to us will be Tuesday's one in Australia. No change is expected there at 4.35...
Container freight rates hit 3x last year's level
June 13, 2024 19:47 - 4 minutes - 4.17 MBKia ora, Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news some think the first signs of a labour market in the US are showing. Initial American actual jobless claims "jumped" last week to +235,000, above the expected +225,000 and to the highest level since August 2023. This may be the early signs that their labour market is...
Fed shifts to one 2024 cut, four in 2025
June 12, 2024 19:42 - 5 minutes - 4.65 MBKia ora, Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news the US expansion rolls on, pushing back the timing of when interest rate normalisation will happen. US CPI inflation came in lower than expected for May, slowing to 3.3%, the lowest in three months. In April it was 3.4% and forecasts for May were 3.4%. While this r...
China-related sentiment downturn deepens
June 11, 2024 19:46 - 4 minutes - 4.46 MBKia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news that will all be overshadowed tomorrow by two key pieces of US data, their CPI and the Fed monetary policy decisions. Today, the American Redbook retail indicator came in +5.5% higher than year-ago levels, continuing its track well above inflation and showing ...
The French gamble
June 10, 2024 19:34 - 3 minutes - 3.41 MBKia ora, Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the EU parliamentary election jolt has everyone's attention. But first in the US, in the four months December to March, consumer inflation expectations held steady at 3%. Then in April they rose 3.3%, and this latest NY Fed survey shows them easing somewhat to 3...
Growth needs productivity gains, IMF says
June 09, 2024 19:15 - 7 minutes - 7.01 MBKia ora, Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the IMF is starting to worry that the US expansion could become unsustainable unless it is matched by national productivity gains. But first we should note that it is a public holiday in Australia today. However all eyes this week will be on Thursday (NZT) when ...
Rising freight rates makes global trade a tougher challenge
June 06, 2024 19:42 - 5 minutes - 5.42 MBKia ora, Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news global trade is facing a tough challenge in containerised freight costs. But first, initial new US jobless claims actually fell modestly last week to +195,000 (although the seasonally adjusted level rose). There are now 1.67 mln people on these jobless benefits. ...
Kylie Walker: What the mission-driven Future Made in Australia approach is & what it could mean
June 05, 2024 23:35 - 29 minutes - 27.1 MBThe Australian Government's a Future Made in Australiainitiative could attract skilled migrants and potentially investment and entrepreneurs from New Zealand, and ultimately be a catalyst for a much more sustainable future, says Kylie Walker, the CEO of the Australian Academy of Technological Sciences & Engineering. In last month's budget, Prime Minister Anthony Albanese's government unveiled a Future Made in Australia, saying this would invest A$22.7 billion over a decade to "build a stron...
A first major central bank cuts its policy rate
June 05, 2024 19:42 - 6 minutes - 5.7 MBKia ora, Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news some central banks have started to cut policy rates, others are contemplating long holds or even rises. But first, US mortgage applications fell a sharpish -5.2% in the last week of May from the prior week to be -13% lower than the same week a year ago, itself ...
A series of unexpected outcomes
June 04, 2024 19:30 - 3 minutes - 3.65 MBKia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news of some unexpected outcomes. The overnight dairy auction belied the futures market again somewhat, delivering modest rises across the board, probably because European production is sagging a bit more than expected. Demand from China was not strong, but other r...
Voters speak, investors nervous
June 03, 2024 19:27 - 8 minutes - 8.13 MBUS PMIs vary, US PCE inflation holds; Canada gets modest expansion; India gets huge expansion; Japan data good; China data weak; NZ to join IPEF.
US expansion milder than expected, bond selloff arrested
May 30, 2024 19:38 - 4 minutes - 4.01 MBKia ora, Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news weaker US data has halted the bond selloff. But first, the actual number of US initial jobless claims rose marginally last week, and the number of people on these benefits was actually unchanged from the prior week at 1.7 mln although that was a small increase fr...
Financial markets drive interest rates up
May 29, 2024 19:42 - 5 minutes - 5.31 MBKia ora, Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news today is Budget Day. Join us at 2pm for full coverage of the new government's first full Budget. More broadly, US mortgage applications sank -5.7% last week from the previous week, the most since mid-February, and ending three consecutive rises. The retreat fol...
Rising yields colour global markets
May 28, 2024 19:35 - 4 minutes - 4.06 MBKia ora, Welcome to Wedenesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news global markets are putting upward pressure on interest rates and that is spilling over to our local markets. In the US, and somewhat unexpectedly, consumer confidence rose in May in the latest Conference Board survey. This mirrors the University of Michigan v...
High rates hurting commercial property funds
May 27, 2024 19:29 - 3 minutes - 3.59 MBKia ora, Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news of mostly second-tier indicators today. And that is because it is a public holiday in the US, Memorial Day, and financial markets are closed there. Tt is probably good that business is closed there for one major commercial real estate investor. Starwood Real Es...
China falls in love with 'wealth management products' again
May 26, 2024 19:25 - 6 minutes - 5.5 MBKia ora, Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news American factory orders are rising and setting up a good second half of 2024. But first we should note that the US is on holiday today and tomorrow, their Memorial Day (like our ANZAC Day but with more retail). This marks the start of their summer season when inv...
China two-faced? What is says sharply different to what it does
May 23, 2024 19:45 - 5 minutes - 4.92 MBKia ora, Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news China seems to be making a play to avoided as an investment destination. But first, initial US jobless claims fell to just +192,000 last week when a small increase was anticipated. Still no labour market stress signals here. The total number of people on these be...
Geof Mortlock: Problems with NZ's depositor compensation scheme & bank failure tools
May 23, 2024 19:30 - 38 minutes - 35.1 MBThe fund backing New Zealand's incoming depositor compensation scheme is going to be small, it's going to take a long time to reach its target level, and the lack of depositor preference in the scheme is a mistake, according to a deposit insurance expert. Geof Mortlock, an international financial regulatory consultant who does work for the International Monetary Fund and World Bank specialising in financial system stability, resolution of bank failures and deposit insurance, spoke about the...
The US Fed worried about lack of inflation progress
May 22, 2024 19:32 - 4 minutes - 4.34 MBKia ora, Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the American central bank is wondering if they have done enough yet to quash the inflation impulse. But first, US mortgage applications rose +1.9% last week from the previous week, adding to the 0.5% increase from that earlier week and taking it to an unusual t...
Markets now expecting rate cut signals
May 21, 2024 19:37 - 5 minutes - 4.59 MBKia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news we are looking for signs inflation is actually easing and policy interest rates can be adjusted lower. But first, at the overnight GDT dairy auction, prices rose a bit more than +3.3% from the prior event two weeks ago. That takes the price level back to where...
Huge Chinese property sector support may not be enough
May 20, 2024 19:37 - 3 minutes - 3.64 MBKia ora, Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news China seems to be struggling to find its way through the wreckage of its property crisis. The Chinese central bank left both its 1- and 5-year rates unchanged in their monthly review today, still at 3.45% and 3.95% respectively. The one year benchmark has been u...
Shamubeel Eaqub: Why institutional landlords should be better for renters than 'accidental' landlords
May 20, 2024 00:21 - 38 minutes - 34.8 MBRenting in New Zealand today is more difficult than a decade ago, with fewer properties available, rents continuing to increase, and the quality of rental properties not much better, Shamubeel Eaqub says. However, the economist and co-author of the 2015 book Generation Rent, rethinking New Zealand's priorities, says it's not all bad news. Speaking in the latest episode of interest.co.nz's Of Interest podcast, Eaqub says the "lived reality of renting" has got harder over the past decade, but...
Geopolitical issues remain but investors look past them
May 19, 2024 19:15 - 7 minutes - 6.46 MBKia ora, Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news metals prices eye a boost from the Chinese housing rescue. But first in the week ahead, it will be one dominated by the RBNZ's Wednesday Monetary Policy Statement, one that itself comes about a week before the new Government's first full Budget - and that too is ...
Investors embrace risk, regulators fret about risk
May 16, 2024 19:46 - 6 minutes - 5.59 MBKia ora, Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the ECB is warning investors aren't taking geopolitical risks into account nearly enough. But first in China, we are getting reports that Beijing is developing a plan to save their housing markets and SOE developers by having the state buy huge numbers of unsold ...
Markets toy with US rate cuts sooner than Fed has indicated
May 15, 2024 20:05 - 5 minutes - 5.32 MBKia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news financial markets are in a risk on mood today. First, the April US inflation rate brought no surprises, coming in as expected at 3.4%, a dip albeit a small one, from March's 3.5%. But it still qualifies as 'sticky' - there have been nine lower readings in the ...
Surpluses and tax cuts now, deficits later
May 14, 2024 19:51 - 6 minutes - 5.57 MBKia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news about the latest and pre-election Aussie Budget delivered overnight. But first, the American retail Redbook Index rose +6.3% last week from the same week a year ago, suggesting buoyant trading in physical stores, gains well ahead of inflation. It is not only t...
China readies new stimulus and the copper price zooms higher
May 13, 2024 19:26 - 4 minutes - 3.8 MBKia ora, Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news China seems to be on the cusp of bringing back its traditional stimulus play to bolster its misfiring economy. But first up today there is more evidence US inflation isn't cooling as the Fed would want. A respected survey by the NY Fed shows that consumer inflat...
China settles in to a blah trend
May 12, 2024 19:21 - 6 minutes - 6.33 MBKia ora, Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news of generally modest and uninspiring economic data. We start today with updates from China. Their April CPI came in +0.3% higher than a year ago, low but not as low as expected and not deflation yet (which they had from October to January). In the circumstances t...
New jump in global freight rates
May 09, 2024 19:42 - 4 minutes - 4.43 MBKia ora, Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with that there is a surprise renewed jump in global shipping freight rates underway again. But first, new US jobless claims rose last week. The headline seasonally adjusted rate "surged" to +231,000 and up from +209,000 the prior week. But the actual number of new claims ...
Bad policy can do massive long-term damage
May 08, 2024 19:36 - 4 minutes - 3.92 MBKia ora, Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news market-moving data is scarce today but investors should be reading the latest US CBO update. First, there was only a modest rise in consumer debt in March, up a mere +1.5% and substantially less than the rise analysts were expecting. Stepping back for a longer ...
Even dour opinions can't knock blossoming data
May 07, 2024 19:40 - 4 minutes - 4.47 MBKia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the positive global economic news rolls on, despite the best efforts of some regional forces to risk everything with crazy adventures. First, today's dairy auction brought a welcome, if small, rise. And it is maybe more than it looks given the signals from the...
The global service sector powers on
May 06, 2024 19:22 - 3 minutes - 3.41 MBKia ora, Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the global service sector is in reasonable shape, helping generate new impetus to the world's economy. Equity markets are rising the wave. In China, their private Caixin services PMI brought some good solid news. It was little-changed in April from the expansion...
US labour market growth slows but productivity rises
May 05, 2024 19:15 - 7 minutes - 6.44 MBKia ora, Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the American labour market data for April seemed to have something for everyone. But first, in the coming week it will be relatively quiet, especially on the US data front. But the Q1 earnings season is in its final weeks and still includes some major reporting. ...
Economic growth rises despite the challenges
May 02, 2024 19:40 - 5 minutes - 4.98 MBKia ora, Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the OECD sees a world economy in recovery and about to expand at an increased rate, despite the many challenges. It is a perspective of resilience. But first in the US, jobless claims held at a two month low ahead of tomorrow's April non-farm labour market report...
The US Fed comes out less hawkish than feared
May 01, 2024 19:32 - 4 minutes - 3.88 MBKia ora, Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news today's Fed positioning is less hawkish that markets had expected. The US Fed policy announcement today brought no change in their rate targets at 5.25-5.50%. They did note that ongoing inflationary pressures and a tight labour market has stalled progress towar...
Modest global economic growth despite sticky inflation
April 30, 2024 19:38 - 5 minutes - 4.63 MBKia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news that as we await our local labour market report, the global economy is expanding modestly, but inflation isn't killed off yet. First in the US labour costs rose +4.2% in the year to March, up +1.2% from the prior quarter. This is the highest rate of increase s...
Of prices, politics and sentiment
April 29, 2024 19:37 - 4 minutes - 4.12 MBKia ora, Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news that today we are in the quiet period before some big news coming up in the rest of the week, starting with our own labour market data out tomorrow, and the US Fed rate review on Thursday (NZT). In the meantime in the US, the pressure from rising petrol prices s...
Eyes on US jobs, NZ's too
April 28, 2024 19:27 - 6 minutes - 5.64 MBKia ora, Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news that jobs will be in focus this week. In the week ahead, all eyes will be on the US Fed's interest rate decision on Wednesday, followed closely by their April labour market report on Saturday (NZT). And that comes after our own local labour market report for Marc...
Stagflation sniffs a comeback
April 25, 2024 20:02 - 6 minutes - 5.62 MBKia ora, Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news all about American GDP and reactions to the first quarter results. US economic activity expanded an annualised +1.6% in Q1-2024, compared to +3.4% in the previous quarter and below forecasts of +2.5%. It was the lowest growth since the contractions in the first h...