New Zealand GDP falls 0.1 pct in Q1 as recession starts

**This is a 60-seconds sample of the video. For the full version, please contact us.**

New Zealand GDP falls 0.1 pct in Q1 as recession starts

STORY: New Zealand GDP falls 0.1 pct in Q1 as recession starts DATELINE: June 16, 2023 LENGTH: 00:01:37 LOCATION: AUCKLAND, New Zealand CATEGORY: ECONOMY SHOTLIST: 1. various of Auckland and harbor 2. various of Auckland's largest container terminal 3. various of Auckland's commercial streets at night STORYLINE: The New Zealand economy has signaled a recession as the gross domestic product (GDP) fell for the second quarter, according to quarterly figures released by the statistics department Stats NZ on Thursday. The GDP fell 0.1 percent in the March 2023 quarter, following a 0.7 percent fall in the December 2022 quarter, Stats NZ said. The second consecutive quarter of negative economic growth signals the start of an economic recession. "Today's outcome fits the definition of a technical recession by the barest of margins," Finance Minister Grant Robertson said, adding the economy was affected by the second-largest natural disaster to hit New Zealand in the first quarter. This result reflects the impa

  • Product Code
  • ILEA001435274
  • Registered date
  • 2023/6/16 00:00:00
  • Credit
  • Xinhua / Kyodo News Images
  • Media source
  • Xinhua News Agency.All Rights Reserved
  • Media size
  • 1920 × 1080 pixel
  • Deployment size
  • 104.39(MB)*
  • Special instruction

*File size when opened in Photoshop, etc.

Similar Images & Videos

    Chinese investment strongly promotes Namibia's economic development: minister

    STORY: Chinese investment strongly promotes Namibia's economic development: minister SHOOTING TIME: June 18, 2024 DATELINE: June 20, 2024 LENGTH: 00:02:24 LOCATION: Windhoek CATEGORY: ECONOMY SHOTLIST: 1. various of the launch of Rossing's 2023 Sustainability and Performance Report 2. SOUNDBITE (English): TOM ALWEENDO, Namibia's Minister of Mines and Energy 3. various of the event STORYLINE: Namibia's mining industry is one of the largest contributors to the country's economy, with Chinese investment playing a significant role in the development of the uranium mining sector, Minister of Mines and Energy Tom Alweendo has said. In 2023, the mining sector contributed up to 14.4 percent of Namibia's gross domestic product, Alweendo said Tuesday at a press conference held in Windhoek, the capital of Namibia. He noted that Chinese investment has been instrumental in establishing Namibia as one of the world's largest producers of uranium. "I am honored to be here today to recognize the Rossing uranium min

      Italy's growth forecast for 2024 revised up to 1 pct: ISTAT

      STORY: Italy's growth forecast for 2024 revised up to 1 pct: ISTAT SHOOTING TIME: June 7, 2024 DATELINE: June 8, 2024 LENGTH: 00:00:41 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of Italy STORYLINE: The Italian economy is expected to grow by 1 percent this year, the country's National Institute of Statistics (ISTAT) said on Thursday, revising up a previous 0.7 percent projection. The country's gross domestic product (GDP) growth rate "will be supported by the contribution of both domestic net demand of inventories and net foreign demand," ISTAT said in its report. Italy, the third largest economy in the European Union after Germany and France, will then expand by 1.1 percent in 2025. Overall, ISTAT said that private consumption in the country continues to be supported by the strengthening of the labor market and an increase in real wages. "These dynamics will lead to a growth of 0.4 percent in household consumption in 2024 and of 1 percent in 2025," it said. The labor market is also expected

        Australian minimum wage to rise by 3.75 pct

        STORY: Australian minimum wage to rise by 3.75 pct SHOOTING TIME: June 4, 2024 DATELINE: June 6, 2024 LENGTH: 00:01:31 LOCATION: Canberra CATEGORY: ECONOMY SHOTLIST: 1. various of Fair Work Commission (FWC) office 2. various of Australians in different professions 3. various of the Australian Bureau of Statistics (ABS) building STORYLINE: Australia's minimum wage will rise by 3.75 percent from the start of July, industrial relations tribunal the Fair Work Commission (FWC) ruled on Monday. From July 1, the minimum wage will increase from 23.23 Australian dollars (15.47 U.S. dollars) per hour to 24.10 Australian dollars (16.05 U.S. dollars) per hour, or 915.90 Australian dollars (609.99 U.S. dollars) per week based on a 38-hour week, FWC said. According to the commission, 20.7 percent of the Australian workforce, or approximately 2.6 million people, are paid minimum wage rates. After accounting for flow-on effects, the FWC estimates that the increase to the minimum wage will affect a quarter of a

          India's GDP grows by 8.2 pct

          STORY: India's GDP grows by 8.2 pct SHOOTING TIME: June 1, 2024 DATELINE: June 2, 2024 LENGTH: 0:01:32 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of market area 3. various of fuel station 4. various of the Reserve Bank of India STORYLINE: India's gross domestic product (GDP) growth during the previous financial year from April 2023 to March 2024 recorded a jump of nearly 1.2 percent from a year earlier, according to data released by the federal Ministry of Statistics and Program Implementation on Friday. The country's GDP grew 8.2 percent for the full year, and 7.8 percent during the last quarter (January-March 2024) of the financial year, it said. According to media reports, the GDP growth was better than what most economists had predicted. The Reserve Bank of India had forecasted a 6.9-percent growth in real GDP for the fourth quarter of the financial year 2023-2024, with a full-year projection of 7.6 percent. Xinhua News Agency correspondents reporting from N

            Turkish economy grows by 5.7 pct in Q1

            STORY: Turkish economy grows by 5.7 pct in Q1 SHOOTING TIME: Recent footage DATELINE: June 1, 2024 LENGTH: 00:01:36 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of an engine factory in Türkiye (courtesy of ihlas news agency) 2. various of textile factories in Türkiye (courtesy of ihlas news agency) 3. various of Türkiye's Treasury and Finance Minister Mehmet Simsek 4. various of an iron products factory in Türkiye (courtesy of ihlas news agency) 5. various of construction sites in Türkiye (courtesy of Hatay Municipality) STORYLINE: The Turkish economy grew 5.7 percent year-on-year in the first quarter of 2024, slightly above expectations, according to official figures on Friday. Thus, the Turkish economy has grown for 15 consecutive quarters since the second quarter of 2020, when COVID-19 pandemic measures were implemented, the data released by the Turkish Statistical Institute shows. Despite the ongoing monetary tightening policy, household consumption accelerated in the run-up to the local e

              Australian unemployment rate rises to 4.1 pct

              STORY: Australian unemployment rate rises to 4.1 pct SHOOTING TIME: May 15, 2024 DATELINE: May 17, 2024 LENGTH: 00:01:14 LOCATION: Canberra CATEGORY: ECONOMY SHOTLIST: 1. various of ABS House 2. various of Canberra employees STORYLINE: Australia's unemployment rate rose for a second straight month to 4.1 percent in April. According to official figures released by the Australian Bureau of Statistics (ABS) on Thursday, the unemployment rate rose from 3.9 percent in March to 4.1 percent in April -- the equal-highest rate since January 2022. The rise in the unemployment rate came despite the number of employed Australians increasing by 38,500 people between March and April, with a 44,600 rise in part-time positions partially offset by a 6,100 fall in full-time roles. In the same period, the number of unemployed people -- meaning those who are not employed but are actively looking for work -- rose by 30,300 to 604,200. The participation rate, which measures the proportion of the working-age popu

                Japan's economy contracts annualized 2 pct in January-March

                STORY: Japan's economy contracts annualized 2 pct in January-March SHOOTING TIME: April 30 & May 4, 2024 DATELINE: May 16, 2024 LENGTH: 00:02:42 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of street view in Tokyo 2. various of banks in Tokyo STORYLINE: Japan's economy shrank by an annualized 2.0 percent in the January-March period from the prior quarter, marking the first contraction in two quarters amid sluggish consumer spending, the latest GDP figures showed Thursday. Real gross domestic product (GDP) in this year's first quarter, adjusted for inflation, fell 0.5 percent from the previous quarter, according to preliminary data released by the Cabinet Office. Private consumption, which accounts for more than half of Japan's GDP, dropped 0.7 percent. It was the fourth straight quarter of decline, the longest streak since 2009, underscoring sluggish domestic demand. Capital spending fell 0.8 percent, down for the first time in two quarters, as Japanese firms curbed investment in mach

                  Indonesia's economy grows 5.11 pct in Q1

                  STORY: Indonesia's economy grows 5.11 pct in Q1 SHOOTING TIME: May 6, 2024 DATELINE: May 7, 2024 LENGTH: 00:01:24 LOCATION: Jakarta CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference 2. various of the financial sector in Indonesia 3. various of a port in Indonesia 4. various of Jakarta STORYLINE: Indonesia's economy grew by 5.11 percent year on year in the first quarter of this year, Statistics Indonesia BPS announced on Monday. The quarterly growth marks the highest for a first quarter since 2015, said acting head of BPS Amalia Widyasanti, adding the Southeast Asian country had recorded a growth of 5.12 percent in the first quarter of 2014. However, "Compared to the previous quarter, economic growth contracted 0.83 percent," said the official at a press conference. The main contributors to the economic growth in the first quarter in terms of production are the processing, trade, construction and mining sectors, according to her. "In the first quarter of 2024, the manufacturing

                    OECD revises up Türkiye's 2024 growth forecast to 3.4 pct

                    STORY: OECD revises up Türkiye's 2024 growth forecast to 3.4 pct SHOOTING TIME: Recent footage DATELINE: May 3, 2024 LENGTH: 00:01:15 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of a port in Türkiye (recent footage) 2. various of a textile factory in Türkiye (recent footage) 3. various of a customs gate in Türkiye (recent footage) STORYLINE: The Turkish economy is expected to grow at 3.4 percent this year and 3.2 percent in 2025, the Organization for Economic Cooperation and Development (OECD) said Thursday, revising up its February projection of 2.9 percent for 2024. In its economic outlook report, the OECD said Türkiye's real GDP growth was projected to slow from 4.5 percent in 2023 to 3.4 percent in 2024. Tighter financial conditions and the adverse impact of inflation on purchasing power in the country will subdue household consumption, the report said, reminding that inflation peaked at the beginning of this year but will remain elevated over 2024 and 2025. Despite tighter financial con

                      Australian inflation rate slows to 3.6 pct

                      STORY: Australian inflation rate slows to 3.6 pct SHOOTING TIME: April 26, 2024 DATELINE: April 28, 2024 LENGTH: 0:02:07 LOCATION: Canberra CATEGORY: ECONOMY SHOTLIST: 1. various of a supermarket 2. various of street views in Australia STORYLINE: Australia's annual rate of inflation has fallen to 3.6 percent, according to official figures published by the Australian Bureau of Statistics (ABS) on Wednesday. The figure showed that the consumer price index (CPI) rose by 1.0 percent in the first three months of 2024 and 3.6 percent in the 12 months to the end of March. It marks a fall from a 4.1 percent rise in the CPI in the 12-month period to the end of December 2023. The ABS identified rising costs of education, health, housing, food and non-alcoholic beverages as the most significant drivers of inflation in the first quarter of 2024. Housing prices were 0.7 percent higher at the end of March than at the start of 2024 and 4.9 percent higher than 12 months earlier. Education costs rose 5.