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But yeah, generally,
added up to 0.2% growth, which was a little bit sort of understated, a little bit disappointing.
I mean, you know, do we worry too much about it?
Not really, because it's always a bit outdated, and of course even more outdated now, given what's been going on.
I mean, we're not going to know.
I was thinking about it earlier that we'll get the Q1 GDP numbers in the middle of June.
But even that's going to have January and February in it, which was unaffected by the Iran conflict.
So even those Q1 numbers will only have March in it.
So even those numbers aren't going to be a true reflection of kind of what's been going on.
We'll have to wait till September to get...
the q2 numbers and who knows it hopefully i mean hopefully it's all over in you know a few weeks time so yeah this this might uh it might be hard to really get a true picture of all of this in the data we might not know for a long time anyway so that's um kind of a wee bit of a a bit of intrigue or a little bit of a tricky one around all of this but
I mean, yeah, in terms of the bad news is good scenario, I guess, you know, for people, that's only really a thing in relation to people with debt and, you know, worried about higher interest rates is that
because actual activity didn't rise as much as what people might have been anticipating, that implies that there's still spare capacity out there.
This actual growth hasn't really absorbed any of that spare capacity.
So people are still operating below where they could be.
That's a sort of downwards influence on inflation.
Therefore, suggesting the Reserve Bank still has a bit of scope to leave interest rates where they are.
They don't necessarily need to be rushing to push the OCR up because
They've always said all along, you know, we think there's a decent degree of spare capacity.
It's probably still there because the economy itself hasn't really been growing that much.