New Zealand GDP Growth Eases to 0.5% QoQ


The New Zealand economy advanced 0.5 percent on quarter in the first quarter of 2018, below the 0.6 percent for the previous quarter and matching market expectations.

Slower growth was explained by contractions in mining (-0.2 percent vs +1.4 percent in the previous quarter), utilities (-0.4 percent vs +0.7 percent) and construction (-1.0 percent vs +0.8 percent). In addition, growth for services slowed down (+0.6 percent vs +1.1 percent), mainly explained by wholesale trade (+0.2 percent vs +2.3 percent), retail trade & accommodation (+0.3 percent vs 1.6 percent), transport (0.5 percent vs 1.6 percent), and financial & insurance services (0.1 percent vs 1.0 percent).

In contrast, manufacturing activity rebounded 0.7 percent after edging down 0.1 percent in the fourth quarter, while primary activity rebounded 0.6 percent after a 2.6 contraction in Q4.

Year-on-year, GDP expanded 2.7 percent, also below the 2.9 percent for the previous quarter and in line with expectations.  

New Zealand GDP Growth Eases to 0.5% QoQ


Mario | mario@tradingeconomics.com
6/20/2018 11:01:30 PM