New Zealand GDP grew 1.6% qoq in Q1, much stronger than expectation of 0.5% qoq. Services industries rose 1.1% qoq. Goods producing industries rose 2.4% qoq. Primary industries rose 0.3% qoq. GDP per capita rose 1.5% qoq.
“After an easing of economic activity in the December quarter, we’ve seen broad-based growth in the first quarter of 2021. This is despite Auckland being in alert level 3 lockdown for 10 days, and continued border restrictions,” national accounts senior manager Paul Pascoe said.
