GDP falls a worse-than-expected 0.3% in 3Q

(Image: Getty)

Thu, 14 Dec 2023

New Zealand’s economy slumped in the September quarter.The economy shrank 0.3% compared to the June quarter and was down 0.6% year-on-year.The data significantly differs from consensus economist forecasts, the NZ Herald reported. “All goods-producing industries were down this quarter, led by a fall in manufacturing,” Stats NZ national accounts industry and production senior manager Ruvani Ratnayake said today.This follows a (revised) 0.5% rise in the June 2023 quarter. GDP rose 1.3% over the year ending September 202...

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