Economy grows 0.9% in June quarter

Sunday 26 September 2004

The economy continued to steam ahead in the June quarter with gross domestic product (GDP) for that period up 0.9%, Statistics New Zealand said today.

By The Landlord

GDP growth in the three months to June 30 followed increases of 2.1% and 0.9% respectively in the March and December quarters. Growth in the June 2003 quarter was 0.3%.

The increase was in line with economists' forecasts, a poll by Reuters having the median increase at 0.9%. It was the 16th straight quarterly increase in GDP.

Annual growth in GDP for the June year was 4.4%, following a rise of 3.6% in the 2003 June year.

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