Expenditure on GDP fell 0.8 per cent in the December 2022 quarter, following an increase of 1.9 per cent in the September 2022 quarter. Expenditure on GDP rose 2.2 per cent over the year ended December 2022 compared with the year ended December 2021, Statistics New Zealand (Stats NZ) said on its website.

New Zealand’s gross domestic product (GDP) fell by 0.6 per cent in Q4 2022, following a 1.7 per cent rise in Q3 2022. Expenditure on GDP also decreased by 0.8 per cent in Q4 2022, while manufacturing and retail trade declined by 1.9 per cent in the same quarter. New Zealand’s GDP rose 2.4 per cent over the year ended December 2022 compared to previous year.

Moreover, New Zealand’s manufacturing as well as retail trade declined by 1.9 per cent in the December 2022 quarter.

Fibre2Fashion News Desk (NB)