Official data out yesterday showed gross domestic product fell 0.2% in the June quarter from the prior quarter. — Reuters
WELLINGTON: New Zealand’s economy contracted in the second quarter as activity fell in a number of major industries, keeping the central bank on track for more rate cuts this year.
Official data out yesterday showed gross domestic product fell 0.2% in the June quarter from the prior quarter, better than analysts’ forecasts of a 0.4% contraction.
