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Gross Domestic Product: December 2013 quarter
Embargoed until 10:45am  –  20 March 2014
Key facts

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.

Graph, Gross domestic product, quarterly change, December 2007 to December 2013.

Liz MacPherson
Government Statistician

20 March 2014
ISSN 1178-0290
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