NZ Economy Grows 0.2% in Q2 Amid Middle East Crisis

New Zealand's economy grew at a slower pace in the second quarter of this year, according to official data released on Thursday. The gross domestic product (GDP) rose 0.2% compared to the previous quarter, surpassing analysts' forecast of a 0.1% increase and the Reserve Bank of New Zealand's prediction of no growth.

The annual GDP increased by 2.6%, exceeding the market's expected rise of 2.2%. The second-quarter growth was affected by the crisis in the Middle East, which had a negative impact on the economy.