New Zealand GDP beats estimate, fall 12.2 percent in the second quarter

New Zealand's gross domestic product fell a seasonally adjusted 12.2 percent in the second quarter, data showed on Thursday.

• GDP prod based (QoQ) sa (q2): -12.2% (est -12.8%, prev -1.6%)
• GDP prod based (YoY) sa (q2): -12.4% (est -13.3%, prev -0.2%)

Description

The Gross Domestic Product released by the Statistics New Zealand is a measure of the total value of all goods and services produced by New Zealand. The GDP is considered as a broad measure of New Zealand economic activity and health. Generally speaking, a high reading is seen as positive (or bullish) for the NZD, while a falling trend is seen as negative (or bearish) for the NZD.

More to come...