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Gross Domestic Product: December 2015 quarter
Embargoed until 10:45am  –  17 March 2016
Key facts

Economic activity, as measured by gross domestic product (GDP), grew 0.9 percent in the December 2015 quarter.

The main movements by industry were:

  • business services was up 1.5 percent, due to growth in advertising, market research, and management services
  • construction was up 2.5 percent – all construction industries increased
  • retail trade and accommodation was up 1.7 percent, due to accommodation; furniture, electrical, and hardware retailing; and food and beverage services
  • agriculture was down 1.7 percent, due to decreased sheep and beef production.

Expenditure on gross domestic product grew 1.1 percent in the December 2015 quarter.

The main movements in GDE were:

  • household consumption expenditure was up 1.1 percent, due to increased expenditure on restaurants, petrol, and groceries
  • inventories built up $406 million, due to increases in manufacturing and distribution inventories
  • investment in fixed assets was down 1.1 percent, due to decreased investment in plant, machinery, and equipment, and transport equipment
  • exports of goods and services was up 0.3 percent, and imports of goods and services was up 0.7 percent.

See commentary for more detailed analysis.

See gross domestic product visualisation, an interactive tool showing quarterly changes in the production of the different industries in New Zealand's economy.

Image showing GDP growth in the December 2015 quarter by industry.

Image showing size of the economy and increases and decreases in GDP by component, December 2015 quarter.

Graph, gross domestic product, quarterly and annual growth, December 2009 to December 2015.

 

Liz MacPherson, Government Statistician
ISSN 1178-0290
17 March 2016

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