Higher retail consumption lifts GDP

Quarter Quarterly growth – revised (%)
Sep-13 0.7
Dec-13 0.2
Mar-14 1.4
Jun-14 0.5
Sep-14 1.2
Dec-14 1.5
Mar-15 0.3
Jun-15 0.8
Sep-15 1
Dec-15 1
Mar-16 1.2
Jun-16 1
Sep-16 0.9
Dec-16 0.3
Mar-17 0.8
Jun-17 1.1
Sep-17 0.7
Dec-17 0.7
Mar-18 0.7
Jun-18 1
Sep-18 0.6
Dec-18 1
Mar-19 0.4
Jun-19 0.1
Sep-19 0.7
Quarter Quarterly growth – previously published (%)
Sep-13 0.7
Dec-13 0.2
Mar-14 1.5
Jun-14 0.5
Sep-14 1.3
Dec-14 1.4
Mar-15 0.3
Jun-15 0.8
Sep-15 0.9
Dec-15 1
Mar-16 1.2
Jun-16 0.9
Sep-16 0.9
Dec-16 0.4
Mar-17 0.8
Jun-17 0.9
Sep-17 0.8
Dec-17 0.9
Mar-18 0.5
Jun-18 0.9
Sep-18 0.3
Dec-18 0.7
Mar-19 0.6
Jun-19 0.5
Quarter Annual growth – revised (%)
Sep-13 2.5
Dec-13 2.3
Mar-14 2.6
Jun-14 2.7
Sep-14 2.8
Dec-14 3.6
Mar-15 3.6
Jun-15 3.9
Sep-15 3.9
Dec-15 3.5
Mar-16 3.6
Jun-16 3.7
Sep-16 3.8
Dec-16 3.9
Mar-17 3.7
Jun-17 3.4
Sep-17 3.1
Dec-17 3.1
Mar-18 3.2
Jun-18 3.2
Sep-18 3.2
Dec-18 3.2
Mar-19 3.1
Jun-19 2.8
Sep-19 2.7
Quarter Annual growth – previously published (%)
Sep-13 2.5
Dec-13 2.2
Mar-14 2.6
Jun-14 2.7
Sep-14 2.9
Dec-14 3.6
Mar-15 3.7
Jun-15 4
Sep-15 4
Dec-15 3.5
Mar-16 3.6
Jun-16 3.6
Sep-16 3.8
Dec-16 3.9
Mar-17 3.7
Jun-17 3.4
Sep-17 3.1
Dec-17 3.1
Mar-18 3.2
Jun-18 3.2
Sep-18 3.1
Dec-18 2.8
Mar-19 2.7
Jun-19 2.4

For the year to June 2019, GDP growth was initially reported as 2.4 percent. This has been revised up to 2.8 percent. Over the year to September 2019, GDP grew 2.7 percent.

“The revised results show that average annual growth rates held up for slightly longer than previously published. However, recent trends remain unchanged, with average annual growth rates slowing over the past few quarters,” Mr Dunnet said.

“While the annual picture for growth is slightly improved from that published three months ago, the impact has not been evenly felt in individual quarters.”

Growth in both the September and December 2018 quarters was revised up, but this was tempered by lower growth in the March and June 2019 quarters than previously published.

/Stats NZ Public Release. View in full here.