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    16.06.2016 08:14 New Zealand's economy expanded at 0.7% in the first quarter

    16.06.2016 08:14

    New Zealand's economy expanded at 0.7% in the first quarter

     

    Statistics New Zealand released its GDP data on late Wednesday evening. New Zealand's GDP rose 0.7% in the first quarter, exceeding expectations for a 0.5% increase, after a 0.9% gain in the fourth quarter.

     

     

    The increase was driven mainly by a rise in construction.

     

     

    The overall services sector rose 0.8% in the first quarter, construction climbed 4.9%, while the manufacturing sector declined 0.4%.

     

     

    On a yearly basis, New Zealand's GDP climbed by 2.8% in the first quarter, beating expectations for a 2.6% growth, after a 2.3% rise in the first quarter.

     
     

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