New Zealand GDP Slips 0.2% In Q2
(RTTNews) - New Zealand's gross domestic product contracted a seasonally adjusted 0.2 percent on quarter in the second quarter of 2024, Statistics New Zealand said on Thursday.
That beat forecasts for a decline of 0.4 percent following the downwardly revised 0.1 percent increase in the three months prior (originally 0.2 percent).
On an annualized basis, GDP sank 0.5 percent - in line with expectations following the upwardly revised 0.5 percent increase in the previous quarter (originally 0.3 percent).
Expenditure on GDP was flat at 0.0 percent in Q2 following a 0.3 percent rise in the first quarter. Expenditure on GDP rose 0.3 percent over the year ended June 2024 compared with the year ended June 2023.
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New Zealand Inflation Slows To 2.2% Annually
Consumer prices in New Zealand were up 2.2 percent on year in the third quarter of 2024, Statistics New Zealand said on Wednesday in line with expectations and down from 3.3 percent in the previous three months.
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16h 34min ago
New Zealand Services Sector Unchanged In September - BusinessNZ
The services sector in New Zealand continued to contract in September, and at a steady pace, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 45.7.
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2 days ago
New Zealand Manufacturing PMI Improves To 46.9 In September - BusinessNZ
The manufacturing sector in New Zealand continued to contract in September, albeit at a slower pace, the latest survey from BusinessNZ revealed on Friday with a manufacturing PMI score of 46.0.
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5 days ago
New Zealand Central Bank Cuts Key Rate By 50 Bps
The Reserve Bank of New Zealand slashed its benchmark rate by 50 basis points on Wednesday, as inflation is converging to the target midpoint, while economic growth is expected to remain subdued in the near term. The Monetary Policy Committee led by Governor Adrian Orr, decided to reduce the Official Cash Rate to 4.75 percent from 5.25 percent. The outcome of the meeting matched expectations.
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7 days ago
New Zealand Building Permits Sink 5.3% In August
The total number of building permits issued in New Zealand was down a seasonally adjusted 5.3 percent on month in August, Statistics New Zealand said on Tuesday - coming in at 2,881 consents.
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15 days ago
New Zealand August Trade Shortfall NZ$2.203 Billion
New Zealand posted a merchandise trade deficit of NZ$2.203 billion in August, Statistics New Zealand said on Monday.
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23 days ago
New Zealand Has NZ$$7.2 Billion Current Account Deficit
New Zealand posted a seasonally adjusted current account deficit of NZ$7.2 billion in the second quarter of 2024, Statistics New Zealand said on Wednesday.
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28 days ago
New Zealand Food Prices Climb 0.4% On Year
Food prices in New Zealand were up 0.4 percent on year in August, Statistics New Zealand said on Thursday, slowing from 0.6% in July.
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34 days ago
