New Zealand's economy expanded at 0.9% in the third quarter

Market news

17 December 2015

New Zealand's economy expanded at 0.9% in the third quarter

Statistics New Zealand released its GDP data on late Wednesday evening. New Zealand's GDP rose 0.9% in the third quarter, exceeding expectations for a 0.8% increase, after a 0.3% gain in the second quarter. The second quarter's figure was revised down from a 0.4% rise.

On a yearly basis, New Zealand's GDP climbed by 2.3% in the third quarter, in line with expectations, after a 2.4% rise in the second quarter.

The increase was driven by a rise in the service and manufacturing industries.

The services sector rose 0.9% in the third quarter, while the manufacturing sector climbed 2.8%.

Initial jobless claims decline to 271,000 in the week ending December 12

U.S.: Philadelphia Fed Manufacturing Survey, December -5.9 (forecast 1.5)

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