New Zealand posted its first quarterly decline in exports in almost two years, adding to signs that the momentum apparent in the economy at the start of the year has faded.
The value of exports fell 3.7% in the second quarter after a 10.6% surge in the three months through March, Statistics New Zealand said Tuesday in Wellington. It’s the first drop since the third quarter of 2023.
Exports were the rock star in the first quarter when gross domestic product expanded 0.8% even as consumer and business confidence was wavering. Since then uncertainty over the impact of US …