Gross domestic product (GDP) rose by 3.0 percent in the December 2021 quarter, following a 3.6 percent fall in the September 2021 quarter, Stats NZ said today.
The rise in economic activity this quarter came as COVID-19 restrictions loosened. This contrasted with the September 2021 quarter, which was marked by the nationwide alert level 4 lockdown in the second half of the quarter.
| Quarter | Quarterly growth (%) |
| Jun-90 | 0 |
| Sep-90 | 0.9 |
| Dec-90 | 1.2 |
| Mar-91 | -2.4 |
| Jun-91 | -0.7 |
| Sep-91 | 0.3 |
| Dec-91 | 0.6 |
| Mar-92 | 0.3 |
| Jun-92 | 0 |
| Sep-92 | -0.8 |
| Dec-92 | 1.3 |
| Mar-93 | 1.6 |
| Jun-93 | 2.2 |
| Sep-93 | 2 |
| Dec-93 | 0.9 |
| Mar-94 | 1.5 |
| Jun-94 | 0.7 |
| Sep-94 | 1.7 |
| Dec-94 | 1.3 |
| Mar-95 | 1.2 |
| Jun-95 | 1.3 |
| Sep-95 | 0.9 |
| Dec-95 | 0.7 |
| Mar-96 | 1.4 |
| Jun-96 | 0.9 |
| Sep-96 | 0.7 |
| Dec-96 | 1.3 |
| Mar-97 | -0.4 |
| Jun-97 | 2 |
| Sep-97 | -0.2 |
| Dec-97 | -0.2 |
| Mar-98 | -0.6 |
| Jun-98 | 0.5 |
| Sep-98 | 0.1 |
| Dec-98 | 1 |
| Mar-99 | 1.2 |
| Jun-99 | 0.8 |
| Sep-99 | 2.8 |
| Dec-99 | 1.2 |
| Mar-00 | 1.5 |
| Jun-00 | 0 |
| Sep-00 | 0.4 |
| Dec-00 | 0.2 |
| Mar-01 | 0.3 |
| Jun-01 | 1.4 |
| Sep-01 | 0.8 |
| Dec-01 | 1.5 |
| Mar-02 | 0.9 |
| Jun-02 | 1.3 |
| Sep-02 | 1.2 |
| Dec-02 | 1.3 |
| Mar-03 | 0.6 |
| Jun-03 | 0.4 |
| Sep-03 | 2.1 |
| Dec-03 | 1.3 |
| Mar-04 | 1.7 |
| Jun-04 | 0.9 |
| Sep-04 | 0.3 |
| Dec-04 | 0.4 |
| Mar-05 | 1.2 |
| Jun-05 | 1.6 |
| Sep-05 | 0.5 |
| Dec-05 | -0.4 |
| Mar-06 | 1.6 |
| Jun-06 | 0.5 |
| Sep-06 | 0.6 |
| Dec-06 | 0.9 |
| Mar-07 | 1.2 |
| Jun-07 | 0.9 |
| Sep-07 | 0.7 |
| Dec-07 | 0.2 |
| Mar-08 | -0.3 |
| Jun-08 | -0.3 |
| Sep-08 | -0.3 |
| Dec-08 | -0.7 |
| Mar-09 | -1 |
| Jun-09 | -0.1 |
| Sep-09 | 0.5 |
| Dec-09 | 1.3 |
| Mar-10 | 0.3 |
| Jun-10 | 0.7 |
| Sep-10 | -0.2 |
| Dec-10 | -0.5 |
| Mar-11 | 1.1 |
| Jun-11 | 0.5 |
| Sep-11 | 1 |
| Dec-11 | 0.6 |
| Mar-12 | 0.6 |
| Jun-12 | 0.3 |
| Sep-12 | 0.3 |
| Dec-12 | 1.5 |
| Mar-13 | -0.3 |
| Jun-13 | 1.2 |
| Sep-13 | 0.6 |
| Dec-13 | 0.2 |
| Mar-14 | 1.5 |
| Jun-14 | 0.5 |
| Sep-14 | 1.3 |
| Dec-14 | 1.6 |
| Mar-15 | 0.3 |
| Jun-15 | 0.7 |
| Sep-15 | 1.1 |
| Dec-15 | 1 |
| Mar-16 | 1.2 |
| Jun-16 | 0.9 |
| Sep-16 | 0.9 |
| Dec-16 | 0.4 |
| Mar-17 | 1 |
| Jun-17 | 1.1 |
| Sep-17 | 0.9 |
| Dec-17 | 0.8 |
| Mar-18 | 0.7 |
| Jun-18 | 1.1 |
| Sep-18 | 0.4 |
| Dec-18 | 1.3 |
| Mar-19 | 0.4 |
| Jun-19 | 0.6 |
| Sep-19 | 1 |
| Dec-19 | 0.4 |
| Mar-20 | -1.5 |
| Jun-20 | -10.3 |
| Sep-20 | 13.9 |
| Dec-20 | -0.3 |
| Mar-21 | 1.3 |
| Jun-21 | 2.5 |
| Sep-21 | -3.6 |
| Dec-21 | 3 |
| Quarter | Annual growth (%) |
| Jun-90 | -0.5 |
| Sep-90 | -0.3 |
| Dec-90 | 0 |
| Mar-91 | 0.2 |
| Jun-91 | 0.3 |
| Sep-91 | -0.3 |
| Dec-91 | -1.3 |
| Mar-92 | -1.1 |
| Jun-92 | -0.5 |
| Sep-92 | -0.1 |
| Dec-92 | 0.7 |
| Mar-93 | 1.1 |
| Jun-93 | 1.9 |
| Sep-93 | 3.6 |
| Dec-93 | 5.2 |
| Mar-94 | 6.4 |
| Jun-94 | 6.6 |
| Sep-94 | 6 |
| Dec-94 | 5.6 |
| Mar-95 | 5.1 |
| Jun-95 | 5.2 |
| Sep-95 | 5.2 |
| Dec-95 | 4.9 |
| Mar-96 | 4.7 |
| Jun-96 | 4.3 |
| Sep-96 | 4 |
| Dec-96 | 4.1 |
| Mar-97 | 3.6 |
| Jun-97 | 3.5 |
| Sep-97 | 3.3 |
| Dec-97 | 2.4 |
| Mar-98 | 2 |
| Jun-98 | 1 |
| Sep-98 | 0.4 |
| Dec-98 | 0.3 |
| Mar-99 | 0.8 |
| Jun-99 | 1.7 |
| Sep-99 | 3.2 |
| Dec-99 | 4.5 |
| Mar-00 | 5.5 |
| Jun-00 | 6.1 |
| Sep-00 | 5.3 |
| Dec-00 | 4.3 |
| Mar-01 | 2.9 |
| Jun-01 | 2.2 |
| Sep-01 | 2.1 |
| Dec-01 | 2.6 |
| Mar-02 | 3.5 |
| Jun-02 | 4 |
| Sep-02 | 4.5 |
| Dec-02 | 4.7 |
| Mar-03 | 4.7 |
| Jun-03 | 4.4 |
| Sep-03 | 4.3 |
| Dec-03 | 4.2 |
| Mar-04 | 4.6 |
| Jun-04 | 5.2 |
| Sep-04 | 5.1 |
| Dec-04 | 4.8 |
| Mar-05 | 4 |
| Jun-05 | 3.4 |
| Sep-05 | 3.2 |
| Dec-05 | 3.2 |
| Mar-06 | 3.3 |
| Jun-06 | 3 |
| Sep-06 | 2.7 |
| Dec-06 | 2.9 |
| Mar-07 | 2.9 |
| Jun-07 | 3.2 |
| Sep-07 | 3.6 |
| Dec-07 | 3.5 |
| Mar-08 | 3 |
| Jun-08 | 2.2 |
| Sep-08 | 1 |
| Dec-08 | -0.2 |
| Mar-09 | -1.1 |
| Jun-09 | -1.7 |
| Sep-09 | -1.8 |
| Dec-09 | -1.2 |
| Mar-10 | -0.1 |
| Jun-10 | 1.1 |
| Sep-10 | 1.9 |
| Dec-10 | 1.8 |
| Mar-11 | 1.5 |
| Jun-11 | 1 |
| Sep-11 | 1 |
| Dec-11 | 1.8 |
| Mar-12 | 2.3 |
| Jun-12 | 2.7 |
| Sep-12 | 2.6 |
| Dec-12 | 2.5 |
| Mar-13 | 2.2 |
| Jun-13 | 2.3 |
| Sep-13 | 2.6 |
| Dec-13 | 2.3 |
| Mar-14 | 2.7 |
| Jun-14 | 2.7 |
| Sep-14 | 2.9 |
| Dec-14 | 3.8 |
| Mar-15 | 3.8 |
| Jun-15 | 4.1 |
| Sep-15 | 4.1 |
| Dec-15 | 3.7 |
| Mar-16 | 3.7 |
| Jun-16 | 3.8 |
| Sep-16 | 3.9 |
| Dec-16 | 4 |
| Mar-17 | 3.8 |
| Jun-17 | 3.6 |
| Sep-17 | 3.4 |
| Dec-17 | 3.5 |
| Mar-18 | 3.6 |
| Jun-18 | 3.6 |
| Sep-18 | 3.5 |
| Dec-18 | 3.4 |
| Mar-19 | 3.4 |
| Jun-19 | 3.1 |
| Sep-19 | 3.2 |
| Dec-19 | 2.9 |
| Mar-20 | 2.2 |
| Jun-20 | -1 |
| Sep-20 | -1.6 |
| Dec-20 | -2.1 |
| Mar-21 | -1.4 |
| Jun-21 | 5.2 |
| Sep-21 | 4.8 |
| Dec-21 | 5.6 |
The services industries led the increase in December 2021 quarter GDP, driven by business services and the retail trade sub-industry within retail trade, accommodation, and restaurants.
The rise in retail trade activity was reflected in higher household consumption expenditure, which increased 5.2 percent.
“Households spent more on goods and services, particularly on durable items such as clothing and footwear, and electrical appliances,” national accounts – industry & production senior manager Ruvani Ratnayake said.
Goods-producing industries also contributed to the rise in GDP, with manufacturing and construction the main drivers.
“Higher levels of activity were seen in most manufacturing sub-industries. There were notable rises in transport equipment, machinery, and equipment manufacturing; and metal product manufacturing, with higher exports of related products seen in the quarter,” Ms Ratnayake said.
Increased investment in other construction, residential buildings, and non-residential buildings contributed to the higher construction activity in the December 2021 quarter.
Overall, investment in fixed assets rose 11.1 percent, with strong contributions from transport equipment, and plant, machinery, and equipment investment.
“Growth in imports of capital goods such as transport equipment aligned with the increases seen in investment expenditure,” Ms Ratnayake said.
The December 2021 quarter results reflect the gradual loosening of COVID-19 control measures from the level 4 alert lockdown experienced in the September 2021 quarter. The results also span the change in the COVID-19 prevention framework during the December 2021 quarter, from the alert level system to the COVID-19 Protection Framework (traffic light) system.
