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GDP Decreases 0.3 Percent In The September 2023 Quarter
New Zealand’s gross domestic product (GDP) fell 0.3 percent in the September 2023 quarter, following a revised 0.5 percent increase in the June 2023 quarter, according to figures released by Stats NZ today.
“All goods producing industries were down this quarter, led by a fall in manufacturing,” national accounts industry and production senior manager Ruvani Ratnayake said.
The fall in manufacturing was driven by petroleum, chemical, plastic, and rubber manufacturing; and food and beverage manufacturing.
“The transport, postal, and warehousing industry also fell, and this was primarily due to a decline in freight logistics, with fewer goods being exported in the quarter,” Ratnayake said.
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