NZ economy surges 1.4% in year to March ’24

New Zealand’s economy grew to 1.4 per cent in the year ending March 2024, up from the initial 0.3 per cent reported earlier, according to updated data released from Statistics New Zealand (Stats NZ) on Wednesday.

The revised data indicates stronger growth in agriculture, forestry, and fishing, as well as improvement in the construction sector.

New Zealand’s recent growth performance may not have been as weak as previously estimated, said Westpac economist Michael Gordon.

Attribution: Stats NZ report, Reuters

Subediting: M. S. Salama