New Zealand’s economy contracted by 3.7 percent on quarter in the three months to September 2021, after an upwardly revised 2.8 percent expansion in Q2 and above expectations of a 4.5 percent decrease. It was the 2nd largest fall recorded since 1986, as a result of covid-19 alert level restrictions and nationwide lockdown implemented in the second half of the quarter. Among industries, goods-producing plunged 7.3 percent, primary industries dropped 3.1 percent, and services fell 2.7 percent. source: Statistics New Zealand
GDP Growth Rate in New Zealand averaged 0.62 percent from 1987 until 2021, reaching an all time high of 13.90 percent in the third quarter of 2020 and a record low of -9.90 percent in the second quarter of 2020. This page provides - New Zealand GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.
GDP Growth Rate in New Zealand is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the New Zealand GDP Growth Rate is projected to trend around 1.30 percent in 2022 and 4.00 percent in 2023, according to our econometric models.