GDP grows 0.2 percent in veryfirst quarter, buoyed by record migration.
Published On 20 Jun 2024
New Zealand’s economy has crawled out of economicdownturn after back-to-back slumps in the period of 18 months.
Gross domestic item (GDP) grew 0.2 percent in the veryfirst 3 months of the year, authorities figures revealed on Thursday, after a 0.1 percent contraction throughout the previous quarter.
While muchbetter than anticipated, the uptick was welcomed with little excitement, being mostly driven by population development due to record-high migration.
On a per capita basis, GDP fell 0.3 percent throughout the veryfirst quarter, the 6th successive decrease.
“The development figure is camouflaging weakpoint,” Craig Renney, an economicexpert and the di