New Zealand GDP Q4: Posts a1.0% fall vs 0.2% expected, Kiwi giving back gains

New Zealand's Gross Domestic Product (sa) arrived -1.0% QoQ vs the expected 0.2%.

GDP for the year was -0.9% vs the expected 0.5% and prior 0.4%.

NZD/USD is under pressure. 
 

More to come...

Description of Gross Domestic Product

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.