GDP decreases 0.2 percent in March 2022 quarter – Stats NZ media and information release: Gross domestic product: March 2022 quarter

GDP decreases 0.2 percent in March 2022 quarter – Media release

16 June 2022

GDP fell 0.2 percent in the March 2022 quarter, following a rise of 3.0 percent in the December 2021 quarter, Stats NZ said today.

Primary industries drove the decrease in GDP, down 1.2 percent in the quarter. Goods producing industries also experienced a slight decline, down 0.1 percent.

“We saw lower output in the food, beverage, and tobacco manufacturing sub-industry; and the agriculture, forestry, and fishing industry,” national accounts industry and production senior manager Ruvani Ratnayake said.

“These declines corresponded to falls in related exports categories, including dairy products; meat products; agriculture and fishing products; and other food, beverage and tobacco products.”

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