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Financial News: New Zealand GDP Expands Just 0.3% In Q3

New Zealand GDP Expands Just 0.3% In Q3

12/19/2018 - 17:02:00 (RTTNews)

(RTTNews) - New Zealand's gross domestic product expanded a seasonally adjusted 0.3 percent on quarter in the third quarter of 2018, Statistics New Zealand said on Thursday.

That was shy of expectations for an increase of 0.6 percent and down from 1.0 percent in the previous three months.

Primary industries grew 2.2 percent on quarter, while goods-producing industries fell 1.0 percent. Growth in service industries eased to 0.5 percent, while GDP per capita was flat and real gross national disposable income grew 0.9 percent.

On a yearly basis, GDP expanded 3.0 percent - exceeding expectations for an increase of 2.8 percent - which would have been unchanged from the three months prior.

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