New Zealand captain Brendon McCullum has conceded that his side were defeated by some "incredible" bowling from England's Stuart Broad this afternoon.

Chasing a victory target of 239, the Kiwis were bowled out for just 68 runs, with Broad having ended the innings with figures of 48-7.

"We came into today with incredibly high hopes. The way that England bowled, particularly Stuart Broad, was incredible and created an element of panic with us," said the defeated skipper.

"It was combination of high-class bowling and some timidness from us. It showed that we have got some room for improvement as a team."

The two teams will contest the final match of the series at Headingley on Friday.