BRIAN GAYNOR: NZ GDP – Smashing all previous records

BRIAN GAYNOR: NZ GDP – Smashing all previous records
Brian Gaynor
Statistics NZ revealed this week that the New Zealand economy contracted by 1.6 percent in the March quarter, on a seasonally adjusted basis, compared with the previous quarter. This was the largest quarterly drop in 29 years.This negative 1.6 percent figure only includes economic activity up to March 31; the June quarter GDP number will contain most of the lockdown period.Thus, the worst and the best are yet to come with the current June quarter expected to produce a record decline of 20 percent or more while the September quarter should...

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Manufacturing activity has contracted for 22 consecutive months

New Zealand’s manufacturing sector contracted in December, marking the first time in the survey’s history that all 12 months were in contraction. The seasonally adjusted Performance of Manufacturing Index (PMI) for December was 45.9, up from 45.2 in November but still well below...

Rebecca Howard 17 Jan 2025