New Zealand GDP down 0.6 pct in Q4

STORY: New Zealand GDP down 0.6 pct in Q4 DATELINE: March 17, 2023 LENGTH: 00:02:05 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of traffic, office buildings, companies, manufacturing and products in market in New Zealand STORYLINE: New Zealand's gross domestic product (GDP) fell 0.6 percent in the December 2022 quarter, following a 1.7 percent rise in the previous quarter, according to quarterly figures released by the statistics department Stats NZ on Thursday. Nine of 16 industries experienced a decrease in activity compared with the September 2022 quarter, Stats NZ said. Manufacturing was the biggest driver of the decrease, down 1.9 percent, it said. "A fall in transport equipment, machinery, and equipment manufacturing corresponded to lower investment in plant, machinery and equipment, while reduced output in food, beverage and tobacco manufacturing was reflected in a drop in dairy and meat exports," Stats NZ national accounts industry and production senior manager Ruvani Ratnayak