Fact sheet

Gross domestic product: December 2013 quarter

20 Mar 2014

New Zealand's gross domestic product was up 0.9 percent in the December 2013 quarter, following a revised 1.2 percent rise in the September quarter.

Key facts

Gross domestic product (GDP):

  • Economic activity increased 0.9 percent in the December 2013 quarter.
  • Manufacturing (up 2.1 percent) and wholesale trade (up 3.2 percent) were the main drivers this quarter.
  • Business services (down 2.1 percent) and agriculture, forestry, and fishing (down¬†2.0 percent) partly offset the growth.
  • Economic activity for the year ended December 2013 was up 2.7 percent.

Expenditure on gross domestic product:

  • The expenditure measure of GDP was up 0.6 percent in the December 2013 quarter.
  • Household consumption expenditure (up 1.3 percent) and exports (up 3.1 percent) were the main drivers of this rise.
  • Inventories were run down by $18 million, due to manufacturing¬†inventories being run down.
  • Investment was up by 0.4 percent, driven by an increase in plant, machinery, and equipment.
  • For the year ended December 2013, expenditure on GDP was up 2.5 percent.
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