New Zealand Q2 GDP -0.9% q/q (vs. -0.3% anticipated)

New Zealand Q2 GDP

Gross Domestic Product -0.9% (QoQ) (Q2)

• expected -0.3%, prior 0.8%

Gross Domestic Product -0.6% (YoY) (Q2)

• expected 0.0%, prior -0.7%

NZD/USD has dropped a few tics on the data release. Big miss for this data. New Zealand in recession again.

New Zealand’s economy contracted in the second quarter

• heightened uncertainty around U.S. tariffs and ongoing weakness in the housing market cited

This article was written by Eamonn Sheridan at investinglive.com.