New Zealand economy contracts sharply, fuelling bets of steeper rate cuts
Yahoo Finance·2025-09-17 23:09
By Lucy Craymer WELLINGTON (Reuters) - New Zealand's economy shrank more than expected in the second quarter as construction remained in decline and global uncertainty weighed, increasing expectations of a steeper rate cut in October. Official data out on Thursday showed gross domestic product (GDP) fell 0.9% in the second quarter from the prior quarter, worse than analysts' and the Reserve Bank of New Zealand’s forecasts of a 0.3% fall. New Zealand's economy has contracted in three of the last five qua ...