New Zealand GDP Growth Up To 1.1% In Q3


The New Zealand economy advanced 1.1 percent on quarter in the third quarter of 2016, higher than a downwardly revised 0.7 percent expansion in the previous period and beating market expectations of 0.9 percent. It is the highest growth rate in three quarters. The expansion was broad-based, with thirteen of the sixteen industries rising, while the main weakness came from agriculture.

Business services increased 2.0 percent (0.4 percent in Q2), due to scientific, architectural and engineering services. Transport was up 3.7 percent (0.2 percent in Q2), due to increases in road, air, and transport support services. Manufacturing rose 1.2 percent (1.6 percent in Q2), due to food, beverage, and tobacco manufacturing; and transport equipment, machinery and equipment manufacturing. Construction expanded 2.1 percent (2.6 percent in Q2), due to increases in all of the construction sub-industries. In contrast, agriculture declined 0.1 percent (+1.4 percent in Q2), utilities shrank 0.2 percent (-0.4 percent in Q2) and informattion media and telecommunications decreased 1.1 percent (-0.5 percent in Q2).

Year-on-year, the economy expanded 3.5 percent, following a downwardly revised 3.4 percent growth in the pprevious period.

New Zealand GDP Growth Up To 1.1% In Q3


Statistics New Zealand | Joana Taborda | joana.taborda@tradingeconomics.com
12/21/2016 10:18:55 PM