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

 

Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>

ALSO:

Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>

ALSO:

Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO: