January to March 2020 economic growth in NZ

  • -0.2% y/y vs. expected 0.3%, prior 1.8%

  • -1.6% (sa) q/q vs. expected -1.0%, prior 0.5%

Some virus impact in the quarter but worse will come in Q2. New Zealand went into its full lockdown only into the end of March.

A miss on the economic growth data for the first quarter of the year. Negative for the NZD at the margin.