GDP: NZ economy firing only three of four engines

ASB economist Jane Turner.

Fri, 19 Mar 2021

The overwhelming picture of the economy shown in the December quarter GDP data is that activity is decidedly patchy but trucking along, despite the handicap of all those missing international tourists.The economy shrank 1% in the quarter from the September quarter, was 0.9% lower than in the December quarter last year and down 2.9% for 2020 compared with 2019.Kiwibank economist Jarrod Kerr said the March quarter data – which we won't get until June – will probably also show a small decline, suggesting New Zealand is technically...

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