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New Zealand's GDP dips 0.6% in Dec 2022 quarter
18 Mar '23
1 min read
Pic: Shutterstock/ Michael Leslie
New Zealand’s economic activity fell in the December 2022 quarter after its gross domestic product (GDP) decreased by 0.6 per cent. This follows a rise of 1.7 per cent in the September 2022 quarter. GDP rose 2.4 per cent over the year ended December 2022 compared with the year ended December 2021.
Expenditure on GDP fell 0.8 per cent in the December 2022 quarter, following an increase of 1.9 per cent in the September 2022 quarter. Expenditure on GDP rose 2.2 per cent over the year ended December 2022 compared with the year ended December 2021, Statistics New Zealand (Stats NZ) said on its website.
Moreover, New Zealand’s manufacturing as well as retail trade declined by 1.9 per cent in the December 2022 quarter.
Fibre2Fashion News Desk (NB)
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