PHOTO: NZ HERALDThe economy has posted stronger than expected growth in the second quarter as service industries and manufacturing lifted activity. The previous quarter's GDP figure was revised to zero from the previous 0.1-percent fall. Service industries, which make up two thirds of the economy, generally drove the increase, although household spending was soft. Labour Party finance spokesperson Grant Robertson said the GDP figures showed New Zealand's economy was resilient. "I think it is likely there will be sort of slow, very, very slow anaemic positive growth second quarter, the June quarter.

Source: New Zealand Herald September 20, 2023 23:44 UTC