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    New Zealand’s Gross Domestic Product contracts 1.0% QoQ in Q3 vs. 0.4% expected

    Author AvatarBy George Brooks No Comments 10 Mins Read

    New Zealand’s Gross Domestic Product (GDP) shrank by 1.0% QoQ in the third quarter (Q3) compared with a 1.1% contraction (revised from -0.2%) in the second quarter, Statistics New Zealand showed on Thursday. This reading came in weaker than expectations of -0.4%.

    The annual third-quarter GDP contracted by 1.5%, compared with a decline of 0.5% in Q2, while below the consensus of a 0.4% decrease.

    Market reaction to New Zealand’s GDP data

    The New Zealand Dollar attracts some sellers in an immediate reaction to the GDP report.  The NZD/USD pair is trading at 0.5622, losing 0.63% on the day.

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    He is an experienced financial journalist with a focus on Forex and cryptocurrency markets. With over two decades of expertise, he delivers in-depth analysis and real-time market updates, providing traders and investors with the knowledge they need to navigate the ever-changing financial landscape. His insightful articles and reports are trusted by professionals and enthusiasts alike.

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