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Financial News: New Zealand GDP Gains 0.5% On Quarter In

New Zealand GDP Gains 0.5% On Quarter In Q4

03/18/2020 - 18:17:00 (RTTNews)

(RTTNews) - New Zealand's gross domestic product expanded a seasonally adjusted 0.5 percent on quarter in the fourth quarter of 2019, Statistics New Zealand said on Thursday.

That matched expectations and was down from the upwardly revised 0.8 percent gain in the three months prior (originally 0.7 percent).

Service industries grew 0.6 percent on quarter, while growth in primary industries was up 0.5 percent and goods-producing industries grew 0.1 percent.

On a yearly basis, GDP was up 2.3 percent - unchanged from the previous quarter and surpassing expectations for a gain of 1.7 percent.

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