By Lucy Craymer

WELLINGTON (Reuters) -New Zealand’s economy shrank more than expected in the second quarter as heightened uncertainty around U.S. tariffs and ongoing weakness in the housing market weighed.

Official data out on Thursday showed gross domestic product (GDP) fell 0.9% in the second quarter from the prior quarter, worse than analysts’ and the Reserve Bank of New Zealand’s forecast of a 0.3% fall.

“The 0.9 percent fall in economic activity in the June 2025 quarter was broad-based with falls in 10 out of 16 industries,” Statistics New Zealand economic growth spokesperson Jason Attewell said. “GDP has now fallen in 3 of the last 5 quarters.”

It followed a revised 0.9% increase in the first quarter from 0.8%.

Annual GDP decreased 0.6%, Statistics New Zealand data showed. The m

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