New Zealand’s GDP expanded 0.4 percent on an annual basis in the three months to September 2020, following a 12.4 decrease in the previous period and compared to market expectations of a 1.3 percent decline. It was the first expansion after two straight declines, as construction rebounded a sharp 8.5 percent following a 25.8 percent plunge in the previous three months. Also, manufacturing grew 2.2 percent after falling 13 percent in Q2. Within services, health care & social assistance jumped 6.2 percent, while public administration and safety (+5.9 percent), rental & hiring (+3.3 percent), and retail trade & accommodation (+8.6 percent) expanded sharply. On an annual basis, GDP expanded at a record pace of 14 percent after a revised 11 percent fall in the previous period. source: Statistics New Zealand
GDP Annual Growth Rate in New Zealand averaged 2.49 percent from 1988 until 2020, reaching an all time high of 7.30 percent in the third quarter of 1993 and a record low of -12.40 percent in the second quarter of 2020. This page provides - New Zealand GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
GDP Annual Growth Rate in New Zealand is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in New Zealand to stand at 2.00 in 12 months time. In the long-term, the New Zealand GDP Annual Growth Rate is projected to trend around 4.00 percent in 2021 and 2.80 percent in 2022, according to our econometric models.