19 Jun 2014
NZ GDP prints solid growth figures
FXStreet (Bali) - New Zealand's Gross Domestic Product ((QoQ) (Q1) came at 1% vs 1.1% exp and 0.9% last, while the (YoY) (Q1) came at +3.8% vs +3.7% and +3.1% last.
Key facts
Gross domestic product (GDP): Economic activity increased 1.0 percent in the March 2014 quarter. Construction (up 12.5 percent) and mining (up 6.3 percent) were the main drivers of the increase. Wholesale trade (down 1.5 percent) partly offset the growth. Economic activity for the year ended March 2014 was up 3.3 percent.
Expenditure on gross domestic product: The expenditure measure of GDP was up 1.3 percent in the March 2014 quarter. Exports (up 3.1 percent) and inventories (built up by $376 million) were the main drivers. Investment increased by 2.1 percent, driven by increases in residential and non-residential building, partly offset by falls in plant, machinery, and equipment, and intangible assets. Household consumption expenditure remained flat, while imports increased by 1.7 percent.
Key facts
Gross domestic product (GDP): Economic activity increased 1.0 percent in the March 2014 quarter. Construction (up 12.5 percent) and mining (up 6.3 percent) were the main drivers of the increase. Wholesale trade (down 1.5 percent) partly offset the growth. Economic activity for the year ended March 2014 was up 3.3 percent.
Expenditure on gross domestic product: The expenditure measure of GDP was up 1.3 percent in the March 2014 quarter. Exports (up 3.1 percent) and inventories (built up by $376 million) were the main drivers. Investment increased by 2.1 percent, driven by increases in residential and non-residential building, partly offset by falls in plant, machinery, and equipment, and intangible assets. Household consumption expenditure remained flat, while imports increased by 1.7 percent.