Financial News: Amended: New Zealand GDP Slips 0.1% In Q4

Amended: New Zealand GDP Slips 0.1% In Q4

03/21/2024 - 03:39:00 (RTTNews)

(RTTNews) - Amended first para

New Zealand gross domestic product contracted a seasonally adjusted 0.1 percent on quarter in the fourth quarter of 2023, Statistics New Zealand said on Thursday.

That was shy of forecasts for an increase of 0.1 percent following the 0.3 percent decline in the previous three months as the country remains in recession.

Expenditure on GDP was flat on quarter, while GDP per capita fell 0.7 percent and real gross national disposable income fell 1.4 percent. Expenditure on GDP fell 0.6 percent and income GDP was down 0.6 percent.

On an annualized basis, GDP fell 0.3 percent - again missing forecasts for a gain of 0.1 percent after sinking 0.6 percent in the third quarter.

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