The New Zealand Dollar edged lower by about 0.2% after the announcement, setting later at $0.7244. The GDP figures are a rare blip in a run of positive readings after New Zealand eliminated community transmission of the coronavirus.
WELLINGTON: New Zealand's gross domestic product fell more than expected in the fourth quarter of last year after a record rebound in the previous quarter as the country successfully contained the new coronavirus, official data showed on Thursday.
The GDP fell 1.0% in the three months to December, short of economists' forecasts in a Reuters poll who expected a production-based GDP growth of 0.1%. It was also below the forecast of the Reserve Bank of New Zealand which had pencilled flat growth for the period.
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