New Zealand GDP Growth Steady at 0.9% in Q4


New Zealand economy expanded a seasonally adjusted 0.9 percent in the three months to December of 2015, the same pace in the previous quarter and beating market expectations of a 0.6 percent growth, boosted by services and construction.

The services sector rose 0.8 percent in the last quarter of 2015, mostly due to business services (up 1.5 percent), namely advertising, market research, and management services, as well as scientific, architectural, and engineering services. Retail trade and accommodation (up 1.7 percent) also contributed to growth in the service industries as accommodation, and furniture, electrical, and hardware retailing were up. Construction expanded 2.5 percent as residential building, non-residential building, and construction services grew. In contrast, agriculture shrank 1.7 percent, due to decreased sheep and beef production.
 
The expenditure measure of GDP went up 1.1 percent in the fourth quarter following an upwardly revised 1.4 percent in the September quarter. Household spending increased 1.1 percent, exports grew 0.3 percent and imports went up 0.7 percent, while investment in plant, machinery, and equipment, and transport equipment decreased 1.1 percent.
 
Year-on-year, the economy expanded 2.3 percent in the fourth quarter of 2015, the same growth as in the precedent period.
 
Growth for the year ended December 2015 was 2.5 percent.

New Zealand GDP Growth Steady at 0.9% in Q4


Statistics New Zealand | Mojdeh | mojdeh@tradingeconomics.com
3/16/2016 11:01:03 PM