Credit Reporting agency Dun and Bradstreet has forecast a GDP of zero for New Zealand in the second quarter of 2008.

Their latest Economic and Risk Outlook Report shows a drop of 0.7 percentage points since last quarter's forecast.

The report also downgraded New Zealand's country risk rating from DB2c to DB2b, putting it on par with the United Kingdom for cross border business risk.

Dun and Bradstreet predict New Zealand's GDP will pick up at the end of the year.