Solid GDP growth

Stats NZ reports:

Gross domestic product (GDP) rose 0.8 percent in the June 2017 quarter, following a revised 0.6 percent rise in the March quarter, Stats NZ said today.

“Strong export and domestic demand underpinned growth this quarter,” national accounts senior manager Gary Dunnet said. “Demand for exports has resulted in strong production growth in manufacturing and service industries.”

Exports rose 5.2 percent, with exports of goods posting its biggest quarterly increase in nearly 20 years.

Well that will stop under Labour with their $6 billion of extra taxes and tariffs (as in now reduced as they won’t be in TPP) on the rural sectors.

GDP per capita rose 0.3 percent this quarter.

Labour have lost an attack line.

Annual GDP growth for the year ended June 2017 was 2.7 percent while the size of the economy in current prices was $268 billion.

Of interest is that manufacturing went up 1.8% in the quarter. Remember Labour claiming there was a manufacturing crisis.

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