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New Zealand GDP rises 0.9% in June quarter, manufacturing activity returns to growth

21 September 2023

New Zealand’s gross domestic product (GDP) rose 0.9 percent in the June 2023 quarter, following a flat March 2023 quarter, according to quarterly figures released by Statistics New Zealand (Stats NZ).

Economic and environmental insights general manager Jason Attewell said, “Business services was the biggest driver of economic growth this quarter, largely due to computer system design.”

Several other industries also contributed to the growth this quarter, including: public administration, safety, and defence; rental, hiring, and real estate services; electricity, gas, water, and waste. Transport equipment and machinery manufacturing drove higher activity in the manufacturing industry in the June 2023 quarter.

Manufacturing activity increased this quarter after five consecutive quarters of decline.

“Following the impacts of Cyclone Gabrielle, both education and transport, postal, and warehousing grew this quarter after a decline in the March quarter. Agriculture, forestry, and fishing, which was also impacted by extreme weather events, fell in both the March and June quarters,” Attewell said.

The expenditure measure of GDP rose 1.3% in the June 2023 quarter.