NZ Economy Beats Forecasts with 0.2% Q2 Growth

New Zealand's economy grew at a sluggish pace in Q2, despite expectations of a slowdown. According to official data released on Thursday, the country's gross domestic product (GDP) rose by 0.2% in the second quarter compared to the previous quarter.

This growth rate was better than analysts' forecast of a 0.1% increase and even surpassed the Reserve Bank of New Zealand's prediction of no growth. The annual GDP increased by 2.6%, exceeding market expectations of a 2.2% rise.