Credit ratings agency Fitch lowered New Zealand's outlook to "negative" from "stable" on Friday, citing the South Pacific country's increasing difficulty reducing debt due to a delay in fiscal consolidation over the last few years. New Zealand's economic recovery has stumbled in the past few quarters, as tepid consumption and heightened uncertainty about U.S. trade policy and the global economic outlook weighed. Though economic growth has started to show signs of improvement, there remains plenty of spare capacity.