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Statistics New Zealand released its GDP data on late Wednesday evening. New Zealand's GDP rose 0.4% in the second quarter, missing expectations for a 0.5% increase, after a 0.2% gain in the first quarter.
On a yearly basis, New Zealand's GDP climbed by 2.4% in the second quarter, missing expectations for a 2.5% gain, after a 2.7% rise in the first quarter. The first quarter's figure was revised up from a 2.6% rise.
The increase was driven by a rise in the service and primary industries.
The services sector rose 0.5% in the second quarter, while agriculture climbed 3.0% in Q2 as the meat and dairy production increased.
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