Photo / NZMEGross domestic product (GDP) rose 2.8 per cent in the June 2021 quarter, following a 1.4 per cent increase in the March 2021 quarter, Stats NZ said today. That is well ahead of market estimates for around 1.1 per cent and confirms the economy was running red-hot before the latest lockdowns. On an annual average basis it equates to 5.1 per cent growth for the year. The 2.8 per cent rise in June 2021 quarter GDP was led by the services industries. Retail trade and accommodation was the largest contributor to GDP growth in the June 2021 quarter, driven by higher activity in accommodation and food services.

Source: New Zealand Herald September 15, 2021 22:52 UTC