New Zealand GDP for Q2 -12.2% q/q (sa) (vs. expected -12.5%)
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%
- 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.