New Zealand’s GDP expanded 0.7 percent on quarter in the three months to September 2019, up from a 0.1 percent advance in the previous period to beat market expectations of a 0.6 percent rise. It was the fastest quarterly growth rate since the last quarter of 2018, nudged by retail activity (2.4 percent vs 0.8 percent in Q2), amid higher spending on electronics such as appliances, mobile phones, and computers. Other significant positive contributions came from information & communication (2.7 percent vs 0.6 percent); professional, scientific, technical, admin, and support (0.7% after showing no growth); manufacturing (0.6 percent vs -1.0 percent); construction (0.6 percent vs -0.9 percent) and agriculture (1.5 percent vs 0.1 percent). On annual basis, activity rose 2.3 percent following a 2.1 percent expansion.
GDP Growth Rate in New Zealand averaged 0.64 percent from 1987 until 2019, reaching an all time high of 2.80 percent in the third quarter of 1999 and a record low of -2.40 percent in the first quarter of 1991. This page provides - New Zealand GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Statistics New Zealand
GDP Growth Rate in New Zealand is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in New Zealand to stand at 0.70 in 12 months time. In the long-term, the New Zealand GDP Growth Rate is projected to trend around 0.70 percent in 2021 and 0.60 percent in 2022, according to our econometric models.