New Zealand’s gross domestic product was down 1.0 percent on quarter in the fourth quarter of 2020, Statistics New Zealand said on Thursday.

That missed forecasts for an increase of 0.1 percent following the downwardly revised 13.9 percent increase in the previous three months (originally 14.0 percent).

On a yearly basis, GDP sank 0.9 percent – again missing expectations for an increase of 0.5 percent following the downwardly revised 0.2 percent gain in the three months prior (originally 0.4 percent).

For all of 2020, GDP was down 2.9 percent.

The material has been provided by InstaForex Company – www.instaforex.com

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