NZ economic growth (contraction) for the April to June quarter

GDP (as) -12.2% q/q

  • expected -12.5%, prior revised to -1.4% from -1.6%

GDP -12.4% y/y

  • expected -12.8%, prior -0.2%

Obviously impact from the COVID-19 pandemic and NZ's Alert 4 level lockdown which shuttered around a third of the economy through April. A wind back to Alert levels 3 and 2 that followed allowed some rebound.