New Zealand dollar falls even further after GDP plunges

NZ economic growth data – gross domestic product (GDP) – contracted further in the September quarter:

• New Zealand Q3 GDP -1.0% q/q (vs. -0.4% expected)

Q2 showed contraction also, thus cementing two straight quarters of decline. This is the widely-accepted definition of recession.

NZD/USD had been falling, extended lower still:

This article was written by Eamonn Sheridan at www.forexlive.com.