- New Zealand GDP beats expectations.
Most had been expecting New Zealand GDP to have risen 0.4% in the second quarter and 2.0% for the year.
The data arrived as follows:
- 0.5% for QoQ vs the estimate of 0.4%
- 2.1% for YoY vs the 2.0% estimate.
About NZ GDP
The Gross Domestic Product released by the Statistics New Zealand is a measure of the total value of all goods and services produced by New Zealand. The GDP is considered as a broad measure of New Zealand economic activity and health. Generally speaking, a high reading is seen as positive (or bullish) for the NZD, while a falling trend is seen as negative (or bearish) for the NZD.