Kaikoura quake to shave 0.1% from NZ's GDP over two years, report shows

Fri, 28 Apr 2017

By Paul McBeth April 28 (BusinessDesk) - The 7.8 magnitude earthquake near Kaikoura last November will trim economic growth by about 0.1 of a percentage point over two years due to increases in the cost of transport to and from Canterbury and disrupted business operations, government-commissioned research shows. A Market Economics report prepared for the Ministry of Transport estimates the quake will hit gross domestic product by $465 million over two years, rising to $513 million if the reconstruction takes longer than expected. The big...

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