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INDEPENDENT NEWS

December 2020 Quarter GDP Drops 1.0 Percent After Record September Rebound

By: Statistics New Zealand
Published: Thu 18 Mar 2021 10:42 AM
Gross domestic product (GDP) fell by 1.0 percent in the December 2020 quarter, following a revised 13.9 percent increase in the September 2020 quarter, Stats NZ said today.
“The dip in activity in the December quarter follows record growth in the September 2020 quarter,” national accounts senior manager Paul Pascoe said.
“The September quarter reflected a bounce back after a slump in the June quarter, due to the COVID-19 national lockdown when many businesses were shut for weeks."
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