NZ financial progress (contraction) for the April to June quarter

GDP (as)  -12.2% q/q 

  • anticipated -12.5%, prior revised to -1.4% from -1.6%

GDP -12.4% y/y 

  • anticipated -12.8%, prior -0.2% 

Clearly impression from the COVID-19 pandemic and NZ’s Alert Four degree lockdown which shuttered round a 3rd of the financial system by means of April. A wind again to Alert ranges three and a couple of that adopted allowed some rebound.