Forex
NZ GDP Beats Expectations with 0.2% Growth
New Zealand's economy demonstrated resilience in the face of escalating Middle East tensions, exceeding market expectations with a 0.2% quarter-on-quarter GDP growth rate.
The data released by Stats NZ showed that while GDP rose 0.2% quarter-on-quarter, it marked a deceleration from the 0.8% growth recorded in the first quarter.
Michael Gordon, senior economist at Westpac, noted that the economy 'largely withstood' the conflict between the US and Iran, but was not entirely unscathed.