GDP rises in June 2021 quarter

QuarterQuarterly growth (%)
Jun-060.5
Sep-060.6
Dec-060.9
Mar-071.2
Jun-070.9
Sep-070.8
Dec-070.2
Mar-08-0.3
Jun-08-0.3
Sep-08-0.4
Dec-08-0.7
Mar-09-1
Jun-090
Sep-090.5
Dec-091.2
Mar-100.3
Jun-100.7
Sep-10-0.2
Dec-10-0.5
Mar-111.1
Jun-110.5
Sep-111.1
Dec-110.6
Mar-120.6
Jun-120.3
Sep-120.2
Dec-121.6
Mar-13-0.3
Jun-131.2
Sep-130.6
Dec-130.3
Mar-141.5
Jun-140.6
Sep-141.3
Dec-141.6
Mar-150.3
Jun-150.7
Sep-151.1
Dec-151.1
Mar-161.2
Jun-160.9
Sep-160.9
Dec-160.4
Mar-171
Jun-171.1
Sep-171
Dec-170.8
Mar-180.7
Jun-181.2
Sep-180.4
Dec-181.1
Mar-190.3
Jun-190.4
Sep-190.9
Dec-190.2
Mar-20-1.4
Jun-20-9.9
Sep-2013.9
Dec-20-1
Mar-211.4
Jun-212.8
QuarterQuarterly volume ($)
Jun-0647169000000
Sep-0647462000000
Dec-0647892000000
Mar-0748469000000
Jun-0748908000000
Sep-0749281000000
Dec-0749363000000
Mar-0849211000000
Jun-0849059000000
Sep-0848882000000
Dec-0848560000000
Mar-0948075000000
Jun-0948052000000
Sep-0948291000000
Dec-0948892000000
Mar-1049047000000
Jun-1049401000000
Sep-1049284000000
Dec-1049031000000
Mar-1149564000000
Jun-1149808000000
Sep-1150343000000
Dec-1150626000000
Mar-1250914000000
Jun-1251090000000
Sep-1251217000000
Dec-1252027000000
Mar-1351860000000
Jun-1352466000000
Sep-1352760000000
Dec-1352897000000
Mar-1453672000000
Jun-1453969000000
Sep-1454654000000
Dec-1455518000000
Mar-1555703000000
Jun-1556081000000
Sep-1556680000000
Dec-1557291000000
Mar-1657969000000
Jun-1658470000000
Sep-1659011000000
Dec-1659226000000
Mar-1759837000000
Jun-1760473000000
Sep-1761058000000
Dec-1761571000000
Mar-1861979000000
Jun-1862694000000
Sep-1862947000000
Dec-1863640000000
Mar-1963807000000
Jun-1964088000000
Sep-1964654000000
Dec-1964813000000
Mar-2063899000000
Jun-2057569000000
Sep-2065586000000
Dec-2064901000000
Mar-2165778000000
Jun-2167588000000

The 2.8 percent rise in June 2021 quarter GDP was led by the services industries. The primary and goods-producing industries also contributed to growth in the quarter.

Retail trade and accommodation was the largest contributor to GDP growth in the June 2021 quarter, driven by higher activity in accommodation and food services.

The transport, postal, and warehousing industry was boosted by rises in air transport and transport support services. This industry has been significantly affected by restrictions on international travel in response to the COVID-19 pandemic, as well as continued disruptions to the international transport of goods.

Despite the increase in activity this quarter, transport, postal, and warehousing has fallen 7.0 percent since the pre-COVID -19 December 2019 quarter.

Business services also contributed to the growth in services and total GDP in the June 2021 quarter, rising by 4.8 percent due to higher activity in engineering, architectural and consulting services.

Exports of services also increased in the June 2021 quarter, rising by 63.0 percent. This was driven by rises in exports of travel services, transport services, other business services, and also film exports. However, exports of services remain significantly affected by international travel restrictions due to COVID-19 and are still 43.0 percent below the levels of the December 2019 quarter.

“The June 2021 quarter experienced fewer COVID-19 restrictions than previous quarters affected by COVID-19. Many industries experienced activity at or above pre-COVID-19 levels, while some remained below,” national accounts senior manager Paul Pascoe said.

Most of New Zealand was in alert level 1 for the entire June 2021 quarter, apart from Wellington, which spent 6 days in alert level 2 at the end of June.

“Prior to the COVID-19 pandemic, the June quarter traditionally showed a large decrease in international travel related activity, following the peak summer season in the March quarter,” Mr Pascoe said.

“However, COVID-19 has interrupted that seasonal pattern markedly.”

COVID-19 restrictions have caused significant changes to typical patterns of activity, with international travel and related expenditure currently at very low levels and not showing the normal large decline from the March quarter peaks. This has muted overall GDP growth in the March 2021 quarter, and contributed to growth in the June 2021 quarter, when we account for the usual seasonal effects.

“Opening the trans-Tasman travel bubble with Australia in the June 2021 quarter also contributed to services industries with links to tourism, such as retail and accommodation, and transport,” Mr Pascoe said.

Household consumption expenditure fell 1.4 percent in the June 2021 quarter, due to a 1.9 percent decline in household spending on services. This was partly offset by increases in spending on durable goods (such as electronics and furniture), which were similarly reflected in growth in the retail trade subindustry (up 2.6 percent).

When compared with the pre-COVID-19 December 2019 quarter, household spending increased by 6.0 percent with spending on durable goods 19.7 percent higher.

/Stats NZ Public Release. View in full here.