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- New Zeeland gross domestic product rose 1.1 percent
New Zeeland gross domestic product rose 1.1 percent
Gross domestic product rose 1.1 percent in the September 2016 quarter, following an increase of 0.7 percent (revised) in the June 2016 quarter, Statistics New Zealand said today.
"This quarter's rise points to broad-based growth," national accounts senior manager Gary Dunnet said. "Thirteen of the 16 industries were up, with the main weakness coming from agriculture."
Household spending continued its strong growth, increasing 1.6 percent this quarter, following a 2.0 percent increase in the June quarter.
"We've seen Kiwis spend more on domestic travel, accommodation, eating out, and recreation," Mr Dunnet said.
Exports edged back from last quarter's increase. While growth fell over the September quarter, export volumes remain high. Imports rose in the September quarter, reflecting large purchases of aircraft.
Service industries continued to grow, increasing 1.1 percent in the September quarter. The main drivers were business services; transport, postal and warehousing; and arts, recreation, and other services.
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