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

New Zealand GDP increases 2 pct in Q3

STORY: New Zealand GDP increases 2 pct in Q3 DATELINE: Dec. 15, 2022 LENGTH: 00:02:05 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of street view 2. various of a port 3. various of a production line of milk 4. various of a supermarket 5. various of a honey farm STORYLINE: New Zealand's gross domestic product (GDP) rose by 2 percent in the September 2022 quarter, following a revised 1.9 percent rise in the June quarter, the statistics department Stats NZ said on Thursday. This rise was driven primarily by the services industries, which was up 2 percent. The transport, postal, and warehousing industry was the biggest contributor to the growth, up 9.7 percent, Stats NZ said. "With borders opening to all visitors in the September 2022 quarter, we have seen more spending on both international and domestic air travel," said Stats NZ's industry and production senior manager Ruvani Ratnayake. The business services industry also contributed to the result, driven by computer system services, recrui

New Zealand GDP increases 1.7 pct in Q2

STORY: New Zealand GDP increases 1.7 pct in Q2 DATELINE: Sept. 16, 2022 LENGTH: 00:02:05 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of street view 2. various of a port 3. various of a production line of milk 4. various of a supermarket STORYLINE: New Zealand's gross domestic product (GDP) rose by 1.7 percent in the June quarter, following a 0.2 percent fall in the March 2022 quarter, the country's statistics department Stats NZ said on Thursday. The services industries, which make up about two thirds of the economy, were the main contributor to the increase, up 2.7 percent, Stats NZ said. In the June quarter, households and international visitors spent more on transport, accommodation, eating out, and sports and recreational activities, Stats NZ's industry and production senior manager Ruvani Ratnayake said. Overall household spending declined by 3.2 percent, driven by lower spending on goods such as used motor vehicles and audio-visual equipment, with a similar fall seen in re

New Zealand GDP decreases 0.2 pct in Q1

STORY: New Zealand GDP decreases 0.2 pct in Q1 DATELINE: June 17, 2022 LENGTH: 00:02:05 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of streets 2. various of port 3. various of production line of milk 4. various of supermarket STORYLINE: New Zealand GDP fell 0.2 percent in the March quarter, following a rise of 3 percent in the December 2021 quarter, the statistics department Stats NZ said on Thursday. Primary industries drove the decrease in GDP, down 1.2 percent in the quarter. Goods-producing industries also experienced a slight decline, down 0.1 percent, Stats NZ said. "We saw lower output in the food, beverage, and tobacco manufacturing sub-industry; and the agriculture, forestry, and fishing industry," national accounts industry and production senior manager Ruvani Ratnayake said in a statement. "These declines corresponded to falls in related exports categories, including dairy products; meat products; agriculture and fishing products; and other food, beverage and tobacco products,