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    NZ Treasury: Brexit impact not considered likely to be significant, at least in the short term

    New Zealand’s treasury is out with their latest monthly report on the economic indicators on Monday, this time noting the impact of the Brexit decision on the NZ economy.Key Headlines:Brexit was the main focus of international markets this monthThe impact of the UK's exit from the EU on the New Zealand economy is uncertain, but is not considered likely to be significant, at least in the short termMarch quarter real GDP growth was stronger than expected, driven by construction, tourism and services and underpinned by population growthThe current account deficit narrowed, partly owing to an increase in the terms of trade that also supported nominal GDP growthGlobal market volatility escalated in early June with uncertainty around the speed of US monetary policy normalisation and at the end of the month with the 'Brexit' referendum



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