June 21, 2019 7:00am by David Farrar

GDP per capita up 0.1% only

Gross domestic product increased 0.6 percent in the March 2019 quarter, following a 0.6 percent rise in the December 2018 quarter, Stats NZ said today.
“Construction was the main contributor to GDP growth this quarter, rising 3.7 percent, on top of a 2.2 percent increase in the previous quarter,” national accounts senior manager Gary Dunnet said.
The increase in construction reflected higher investment in both residential and non-residential buildings.
The strong contribution from construction was tempered by subdued results in the service industries, which represent about two-thirds of the economy. Service industries experienced their lowest quarterly growth since the September 2012 quarter, rising 0.2 percent this quarter. …
GDP per capita was up 0.1 percent in the March 2019 quarter.

I guess it is better than declining, but only just.

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