First Impressions: NZ GDP, June Quarter 2025 – Even Weaker than Expected

New Zealand’s GDP fell by 0.9% in the June quarter, substantially worse than expected. The surprises were narrowly concentrated in areas that are unlikely to respond to further interest rate cuts. Key results Quarterly change: -0.9% (last: +0.9%, Westpac f/c: -0.4%, market f/c: -0.3%, RBNZ -0.3%) Annual change: -0.6% (last: -0.6%) New Zealand’s economic output […]

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