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New Zealand GDP Grows 0.2%, Beating Forecasts
Vera
By Vera
Markets Editor
New Zealand’s economy expanded 0.2% in the June quarter and 2.6% from a year earlier, Statistics New Zealand said. Quarterly growth slowed from the revised 0.9% recorded in March but exceeded the 0.1% MarketDefinition A market is an environment where buyers and sellers come together to exchange assets, goods, services, or financial instruments. Prices form as buyers and selle...Read More forecast reported by Reuters. Construction rose 2.7% and provided the largest upward contribution, although only nine of 16 industries expanded. The New Zealand dollar edged higher after the release, while persistent InflationInflation refers to a sustained rise in the general price level that reduces the purchasing power of money. The term belongs in Level 7 because it helps connect macro conditions...Read More keeps the Reserve Bank’s next policy decision dependent on incoming price data.
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