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Economic Indicators

New Zealand economy contracts 0.2% in first quarter

06/16/2022

Less than a minute

2022.06.16 02:41

New Zealand economy contracts 0.2% in first quarter
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.

Source

06/16/2022

Less than a minute