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.
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.