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Market Update: New Zealand GDP Growth Beast Forecast
New Zealands GDP expanded 1.6 percent on quarter in the three months to March 2021 following a revised 1.0 percent contraction in the previous period and compared to market expectations of a 0.5 percent gain. The services industries, which represent about two thirds of New Zealand’s economy, grew 1.1 percent after rising 0.2 percent in the previous quarter. Also, both primary (0.3 percent vs -0.8 percent) and goods-producing industries (2.4 percent vs -3.1 percent) rebounded. On an annual basis, GDP expanded 2.4 percent after a 0.8 percent contraction. source: Statistics New Zealand [/s2If]
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