New Zealand Q2 GDP
Gross Domestic Product -0.9% (QoQ) (Q2)
- expected -0.3%, prior 0.8%
- The Reserve Bank of New Zealand’s forecast was for a 0.3% fall
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's economy contracted in the second quarter
- heightened uncertainty around U.S. tariffs and ongoing weakness in the housing market cited
Statistics New Zealand:
- 0.9 percent fall in economic activity in the June 2025 quarter was broad-based
- falls in 10 out of 16 industries
- GDP has now fallen in 3 of the last 5 quarters
