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- New Zealand GDP rose 0.8% in Q2, as expected
New Zealand GDP rose 0.8% in Q2, as expected
GDP measured by production was up 0.8 percent in the June 2017 quarter. This follows a revised 0.6 percent increase in the March 2017 quarter.
Growth for the year ended June 2017 was 2.7 percent, compared with 2.9 percent growth for the year ended March 2017.
Strong export and domestic demand flowed through into solid production in the retail, manufacturing, transport, and forestry industries.
Dairy export volumes were up 19 percent in the June 2017 quarter, as dairy inventories were run down. Meat export growth contributed to the strength in food manufacturing. A rise in the volume of forestry products exported flowed into an 8.1 percent rise in forestry and logging.
The retail trade and accommodation industry benefitted from increased domestic household expenditure and strong growth in tourism in the latest quarter.
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