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Financial News: New Zealand GDP Gains 0.6% On Quarter In

New Zealand GDP Gains 0.6% On Quarter In Q1

06/19/2019 - 19:45:00 (RTTNews)

(RTTNews) - New Zealand's gross domestic product gained a seasonally adjusted 0.6 percent on quarter in the first three months of 2019, Statistics New Zealand said on Thursday - in line with expectations and unchanged from the previous quarter.

Individually, goods-producing industries grew 2.0 percent, driving economic growth, while growth in service industries eased, up 0.2 percent.

primary industries continued to fall, down 0.7 percent and household spending was up 0.5 percent.

On an annualized yearly basis, GDP was up 2.5 percent - exceeding forecasts for an increase of 2.3 percent, which would have been unchanged.

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