Liam Dann: NZ Herald Business Editor on the GDP rising by 1.1% in Q3
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Liam Dann: NZ Herald Business Editor on the GDP rising by 1.1% in Q3
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New Zealand's economy grew more than expected between July and September.
But between April and June, it shrank more than previously thought.
GDP rose 1.1% in the September quarter, surpassing all expectation but Stats NZ has revised the numbers for the June quarter, finding GDP actually fell 1%, not the previously-reported 0.9%.
That means the economy shrank 0.5% in the year to September.
NZ Herald Business Editor Liam Dann told Kerre Woodham the data is showing there’s some momentum in the economy, especially within manufacturing and business services.
He says consumers take a bit longer to feel upbeat, but the business core of the economy is picking up.
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