New Zealand GDP Slips 0.2% In Q2
2024-09-09
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(fxcue news) - New Zealand's gross domestic product contracted a seasonally adjusted 0.2 percent on quarter in the second quarter of 2024, Statistics New Zealand said on Thursday.
That beat forecasts for a decline of 0.4 percent following the downwardly revised 0.1 percent increase in the three months prior (originally 0.2 percent).
On an annualized basis, GDP sank 0.5 percent - in line with expectations following the upwardly revised 0.5 percent increase in the previous quarter (originally 0.3 percent).
Expenditure on GDP was flat at 0.0 percent in Q2 following a 0.3 percent rise in the first quarter. Expenditure on GDP rose 0.3 percent over the year ended June 2024 compared with the year ended June 2023.
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