The economy of New zealand grew by 2.1% in the second quarter – Forex
GDP of New zealand increased by 2.1% in the second quarter after growing by 2.5% in January-March. The figures are calculated in annual terms. Official statistics show. The main reason for the slowdown in the country's economic growth was the general deterioration of the situation in the world economy. In quarterly terms, the rate of GDP growth in New zealand has also declined. It was 0.5% against growth of 0.6% in the first three months. Nevertheless, both indicators were better than analysts' forecasts. They expected the economy to grow by 2% and by 0.4% respectively. The Financial Times noted the main factors that have a negative impact on the country's economic growth. First of all, it is a trade conflict between China and the United States. China is the main trading partner of New zealand, whose economy is dependent on exports. The mood in the New ealand business has recently deteriorated.