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2020 quarter GDP drops 1.0 percent after record September rebound – Media

18 March 2021

Gross domestic product (GDP) fell by 1.0
percent in the December 2020 quarter, following a revised 13.9 percent
increase in the September 2020 quarter, Stats NZ said today.

“The dip in activity in the December quarter
follows record growth in the September 2020 quarter,” national accounts
senior manager Paul Pascoe said.

“The September quarter reflected a bounce
back after a slump in the June quarter, due to the COVID-19 national lockdown
when many businesses were shut for weeks.”

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