Economic Indicators
New Zealand economy contracts 0.2% in first quarter
2022.06.16 02:41
A sailing boat can be seen in front of the central business district (CBD) of Wellington in New Zealand, July 2, 2017. Picture taken July 2, 2017. REUTERS/David Gray
WELLINGTON (Reuters) – New Zealand’s gross domestic product (GDP) declined 0.2% in the first quarter from the previous quarter due in part to a decline in the primary industries sector, official data showed on Thursday.
The figure was below the median forecast from economists polled by Reuters, who expected production-based growth to increase 0.6% for the quarter.
Annual GDP rose 1.2%, below a Reuters poll forecast of a 2.7% rise.
