NZ March GDP blows forecasts out of the water

Households spent more on accommodation and eating out.

Thu, 17 Jun 2021

Not only did the economy dodge a double-dip recession in the March quarter but it blew forecasts out of the water.The economy expanded 1.6% in the March quarter after shrinking 1% in the December quarter.Economists had tipped the economy to grow between 0.5% and 0.8% while the Reserve Bank's latest forecast was for it to contract by 0.6%. The RBNZ has pointed out, however, it didn’t have all the latest data points when it made that forecast. "After an easing of economic activity in the December quarter, we’ve seen bro...

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