City
Epaper

New Zealand GDP increases 1.7% in Q2

By IANS | Updated: September 15, 2022 13:30 IST

Wellington, Sep 15 New Zealand's gross domestic product (GDP) rose by 1.7 per cent in the June quarter, ...

Open in App

Wellington, Sep 15 New Zealand's gross domestic product (GDP) rose by 1.7 per cent in the June quarter, following a 0.2 per cent fall in the March 2022 quarter, the country's statistics department Stats NZ said on Thursday.

The services industries, which make up about two thirds of the economy, were the main contributor to the increase, up 2.7 per cent, Stats NZ said.

In the June quarter, households and international visitors spent more on transport, accommodation, eating out, and sports and recreational activities, Xinhua news agency quoted Stats NZ's industry and production senior manager Ruvani Ratnayake as saying.

Overall household spending declined by 3.2 per cent, driven by lower spending on goods such as used motor vehicles and audio-visual equipment, with a similar fall seen in retail trade activity, he said.

New Zealand moved from Red to Orange in the Covid-19 traffic light system toward the beginning of the June quarter.

The disruption caused by the Covid-19 pandemic has led to significant changes to typical seasonal patterns of economic activity, Ratnayake said.

International visitor expenditure grew in the June 2022 quarter as border restrictions eased.

This is in contrast to the strong falls that were observed in pre-pandemic June quarters, following the peak summer tourist season, he added.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: Stats nzRuvani ratnayakeXinhuaNew ZealandWellingtonAotearoaWgn
Open in App

Related Stories

CricketNZ vs SA 4th T20I: Keshav Maharaj Wins Toss, South Africa Opt To Bat First Against New Zealand; Check Playing XIs

CricketNZ vs SA 4th T20I LIVE Cricket Streaming: When and Where To Watch New Zealand vs South Africa Match in India

CricketNew Zealand vs South Africa 4th T20I: Weather Forecast, Pitch Report, Match Timing, NZ vs SA Probable Playing XIs and Live Streaming Details

CricketNew Zealand vs South Africa T20I Series 2026 Schedule: Full List Matches, Dates, Timings, Venues, Squads and Live Streaming Details

NationalAhmedabad Traffic Update for India vs New Zealand T20 World Cup Final: Check Road Closures and Alternate Routes Near Narendra Modi Stadium

Politics Realted Stories

PoliticsTripura CM Saha attacks Tipra Motha, 427 Join BJP at Ampinagar rally

PoliticsCM Pinarayi Vijayan's 'Dash Mone Revanth,' jab at Telangana counterpart's "Nee Po..." on eve of Keralam polls

PoliticsAkhil Gogoi slams Assam CM over Police raid on Pawan Khera's residence, accuses Govt of "Hitler-style rule"

Politics"At Mamata's behest": BJP's Nishikant Dubey links Pak Minister's 'Kolkata strike' threat to TMC cover-up

PoliticsWaste of opportunity: Priyanka Gandhi expresses 'frustration' over roadblocks in development of Wayanad