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- New Zealand GDP rose 0.5% in Q1, as expected
New Zealand GDP rose 0.5% in Q1, as expected
Economic activity, as measured by gross domestic product (GDP), was up 0.5 percent in the March 2018 quarter. Growth eased slightly after increases of 0.6 percent each in the previous two quarters. GDP grew 2.7 percent over the year ended March 2018.
The service industries were up 0.6 percent in the March 2018 quarter, down from a 1.1 percent increase in the December 2017 quarter. An increase in manufacturing was offset by a fall in construction activity, resulting in a flat quarter for the goods-producing industries. The primary industries were up 0.6 percent, rebounding slightly from a 2.6 percent fall in the previous quarter.
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