Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Economic activity up 0.2 percent


Economic activity up 0.2 percent – Media release

Economic activity, as measured by gross domestic product (GDP), was up 0.2 percent in the September 2012 quarter, Statistics New Zealand said today. This growth follows revised growth of 0.3 percent in the June 2012 quarter.

The main movements by industry this quarter were:
• construction (up 4.5 percent), due to increases in residential and non-residential building, with Canterbury featuring in both
• manufacturing (down 1.1 percent), due to decreases in metal product and food and beverage manufacturing
• agriculture (down 2.8 percent), falling this quarter after higher than usual growth in the first six months of the year.

"The growth in the latest quarter was driven by construction," national accounts manager Rachael Milicich said.

Economic activity was up 2.5 percent for the year ended September 2012. Compared with the September 2011 quarter, economic activity was 2.0 percent higher in the September 2012 quarter.

The expenditure measure of GDP was up 0.2 percent in the September 2012 quarter. The main features of this growth were:
• Household consumption expenditure, which measures the volume of spending by New Zealand households, was flat this quarter (0.0 percent).
• Investment in fixed assets (down 1.8 percent). Increased investment in residential and non residential buildings was offset by a large decline in investment in plant, machinery, and equipment.
• Exports of goods and services (up 4.0 percent), mainly driven by a 27.7 percent increase in the volume of dairy product exports.

The size of the economy (in current prices) was $208 billion for the year ended September 2012.
--

Authorised by:
Geoff Bascand
Government Statistician

Published 20 December 2012

For more information about these statistics:
• Visit Gross Domestic Product: September 2012 quarter
• Open the attached files

Information release (PDF) Tables (Excel) Copy of this media release (PDF)

(See attached file: GrossDomesticProductSep12qtr.pdf)(See attached file: gdp-Sep12-alltables.xls)(See attached file: GrossDomesticProductSep12qtrMR.pdf)

GrossDomesticProductSep12qtrMR.pdf

Sep12alltables.xls

GrossDomesticProductSep12qtr.pdf

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>

ALSO:

Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>

ALSO:

Earlier:

Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>

ALSO:

'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>

ALSO:

Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news