The New Zealand dollar has posted sharp losses on Thursday. New Zealand's GDP slides by 0.97%New Zealand's economy took a tumble in the second quarter, declining 0.9% q/q. This was a sharp downturn from the Q1 gain of 0.9% and below the market estimate of -0.3%. Annually, GDP declined 0.6%, unchanged from the first quarter and well below the market estimate of 0%. The New Zealand dollar is down 1% on the soft GDP reading.