New Zealand's gross domestic product shrank 1.6 percent on quarter in the first quarter of 2020, Statistics New Zealand said on Thursday.
That missed expectations for a decline of 1.0 percent following the 0.5 percent increase in the previous three months.
Service industries were down 1.1 percent on quarter, while primary industries fell 1.0 percent and goods-producing industries dropped 2.7 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.