GDP fell 1% in December quarter

Thu, 18 Mar 2021

New Zealand's economy shrank 1% in the December quarter from the September quarter with seven out of 16 industries contracting, and construction, retail trade and accommodation being the largest decliners.Rising residential building activity partly offset those falls and construction remains at historically high levels, said Paul Pascoe, national accounts manager at StatsNZ.Pascoe noted the December quarter is traditionally the beginning of the peak international tourism season and that tourists were largely absent because of the covid-19 p...

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Staff reporters 04 Jul 2024