New Zealand GDP Shows a Steady Rise

March 17, 2016 New Zealand Finance

Somewhere in New ZealandOver the course of 2015 the GDP of New Zealand rose by 2.5 percent.

On March 17th Statistics New Zealand released its quarterly report on GDP in New Zealand, showing that for the 3 months ending December 2015 the Gross Domestic Product in New Zealand rose by 0.9 percent.

The rise in the Gross Domestic Product for New Zealand over the course of the 2015 year is estimated to be 2.5 percent.

The strong growth in the 4th quarter of the year was attributed to a 0.8 percent increase in the service industries.

It was noted that over the three months New Zealanders saw a marked increase in spending on restaurant and ready-to-eat meals, accommodation, and international air passenger services.

However, despite the overall positive results, it was also noted that business investment dropped by 2.6 percent over the last three months of 2015.

Photo by Corscri Daje Tutti! [Cristiano Corsini]