New Zealand's benchmark S&P/NZX 50 index fell 0.2% to close at 13,208 on Monday, following a muted session previously, as investors looked ahead to Q2 GDP data due later this week. The economy is expected to slip back into contraction, with GDP projected to shrink after two consecutive quarters of expansion, suggesting that recent growth momentum may have been short-lived. The forecast is broadly in line with the central bank’s projections and highlights lingering economic challenges. A fresh PMI survey also showed further weakness in the services sector in August, remaining well below its long-term average and extending its contraction streak to 18 months. Sentiment was further weighed by a raft of disappointing data from China, New Zealand’s largest trading partner, posing risks to the export-heavy economy. Across the bourse, losses were led by communication and consumer durables, with Spark NZ (-1.7%) and Chorus (-3.1%) declining, while Vital Limited surged more than 11%.