Economy moves out of recession as GDP improves

(Image: Getty)

Thu, 21 Sep 2023

The economy grew 0.9% in the second quarter, keeping the country out of recession and exceeding expectations.Gross domestic product (GDP) rose 3.2% in the year ended June 2023, the New Zealand Herald reported on Thursday.Economists had forecast NZ would rebound back into growth in the second quarter of the year, but estimates for June quarter GDP ranged from growth of 0.4% to 0.8%.But higher dairy, forestry, and meat exports helped drive the growth of 0.9% in the second quarter.“Business services was the biggest driver of economic growth...

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