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Quarterly GDP Bounces Back, But COVID Still A Drag On Annual Growth
Gross domestic product (GDP) rebounded 14.0 percent
in the September 2020 quarter, following a revised 11.0
percent fall in the previous quarter where COVID-19
restrictions impacted economic activity, Stats NZ said
today.
There were fewer restrictions on activity in the September 2020 quarter than during the COVID-19 lockdown-impacted June 2020 quarter, though Auckland was at alert level 3 in August.
“This resulted in the strongest quarterly growth in GDP on record in New Zealand, as the economy bounced back from the lockdown earlier in the year when non-essential businesses closed,” national accounts senior manager Paul Pascoe said.
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