New Zealand GDP Gains 6.4% On Year In Q3

(RTTNews) - New Zealand's gross domestic product expanded 6.4 percent on year in the third quarter of 2022, Statistics New Zealand said on Thursday.

That exceeded expectations for an increase of 5.5 percent and accelerated from 0.4 percent in the three months prior.

On a seasonally adjusted quarterly basis, GDP added 2.0 percent - again beating forecasts for 0.9 percent and up from 1.7 percent in the second quarter.

Service industries rose 2.0 percent on quarter, while goods producing industries rose 2.4 percent and primary industries fell 0.2 percent.

GDP per capita rose 1.9 percent on quarter, while real gross national disposable income rose 2.2 percent, GDP rose 2.7 percent over the year ended September 2022 and current price expenditure on GDP rose 2.8 percent.