🇳🇿New Zealand Q1 GDP Growth Rate Rises By 1.6% Q/Q

*NEW ZEALAND Q1 GDP GROWTH RATE Y/Y 2.4%, EST. 0.9%

Stats NZ:

• The services industries, which represent about two thirds of New Zealand's economy, made the largest contribution to the result.

• Higher activity was also seen in the business services, health care and social assistance, and information media and telecommunications industries in the March 2021 quarter.

• Construction rebounded 6.6 percent after a fall of 8.4 percent in the December 2020 quarter. Construction services, heavy and civil engineering construction, and residential building construction all contributed strongly.