New Zealand Economy Grows 0.3%

23 March 2012 04:00am - Mark Maffia

Email Article Print Article
    


New Zealand Economy Grows 0.3%

According to Statistics New Zealand, New Zealand’s economy grew just 0.3% in the last quarter of 2011. This figure is significantly below predictions of 0.6% growth, and means that the economy grew 1.4% in 2011, compared to the 1.5% seen in 2010. These results come after the New Zealand Institute of Economic Research’s released a quarterly survey further cutting growth expectations as the rebuild in Canterbury suffers from continued delays.

The Rugby World Cup in New Zealand last year helped the retail and hospitality sector grow 2.2% and good growing conditions saw agriculture sector grow 3.5%. Rachael Milicich, Statistics New Zealand’s national accounts manager said, “Growth in this quarter were driven by good growing conditions for agriculture, more business services, and spending on the Rugby World Cup.” She added though, “However, weaker manufacturing compared with last quarter dragged the overall result down.” The manufacturing sector shrank 2.5% in the December quarter, following an expansion of 2.2% in the previous quarter.

Finance Minister Bill English said, “Compared to a lot of other countries, we’re still in pretty good shape,” particularly as the economy had grown in 10 of the past 11 quarters.

news_08.png
 

Related Links:
• Statistics New Zealand
GDP: December 2011 quarter
• Related News
Economists Cut Growth Predictions
• The Treasury
The New Zealand Treasury
• Economic Calendar
For scheduled economic events

PRODUCT RANGES:

CURRENCY EXCHANGE
Compare Foreign Exchange and Currency >>

LOAN PRODUCTS
Compare Loan and Debt Products >>

CARD PRODUCTS
Compare Cards Products >>

MONEY PRODUCTS
Compare Money Products >>

INSURANCE PRODUCTS
Compare Insurance Products >>

We are always looking at simpler ways of controlling our day to day spending , Transaction accounts are the simplest way this can be done .
30 August 2016
Which Way To Pay
As we all want to keep on top of our financial situation , Transaction accounts can do this for you .
Read More >>
Having the stress of money worries hanging over you day in day out is very stressful. Thats why Bad Credit loans could be your answer.
08 August 2015
Which Way To Pay
When it comes to keep being refused by banks and lenders for a solution to clear your debt once and for all . Bad Credit Loans are there to help.
Read More >>
When spending on your reward credit card , many different benefits whilst using this.
14 May 2015
Which Way To Pay
Make sure you get all the rewards you are entitled to with your Rewards Credit Cards.
Read More >>