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GDP Decreases 0.2 Percent In The June 2024 Quarter
New Zealand’s gross domestic product (GDP) fell 0.2 percent in the June 2024 quarter, following a 0.1 percent increase in the March 2024 quarter, according to figures released by Stats NZ today.
Retail trade and accommodation; agriculture, forestry, and fishing; and wholesale trade industries all fell.
"Activity in retail trade and wholesale trade has been in steady decline since 2022," national accounts industry and production senior manager Ruvani Ratnayake said.
Forestry and logging drove the fall in the agriculture, forestry, and fishing industry. This is mirrored by a fall in exports of forestry primary products.
Despite the overall fall in GDP, 7 out of the 16 industries increased. The largest rise was in manufacturing.
GDP decreases 0.2 percent in the June 2024 quarter : https://www.stats.govt.nz/news/gdp-decreases-0-2-percent-in-the-june-2024-quarter/
Gross domestic product: June 2024 quarter: https://www.stats.govt.nz/information-releases/gross-domestic-product-june-2024-quarter/
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