360° Coverage : Drought slows New Zealand economic growth

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Drought slows New Zealand economic growth
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Drought slows New Zealand economic growth

Jun 20 2013, 2:18am CDT | by

Wellington, June 20 (IANS) New Zealand's economy grew by 0.3 percent in the March quarter, with the nationwide summer drought offsetting the effects of the reconstruction of the earthquake-battered Canterbury region, the government statistics agency reported Thursday.

Wellington, June 20 — New Zealand's economy grew by 0.3 percent in the March quarter, with the nationwide summer drought offsetting the effects of the reconstruction of the earthquake-battered...

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1 year ago

Drought slows New Zealand economic growth

Jun 20 2013, 2:18am CDT | by

Wellington, June 20 (IANS) New Zealand's economy grew by 0.3 percent in the March quarter, with the nationwide summer drought offsetting the effects of the reconstruction of the earthquake-battered Canterbury region, the government statistics agency reported Thursday.

Wellington, June 20 — New Zealand's economy grew by 0.3 percent in the March quarter, with the nationwide summer drought offsetting the effects of the reconstruction of the earthquake-battered Canterbury region, the government statistics agency reported Thursday.

The "modest growth" in GDP followed a rise of 1.5 percent in the December 2012 quarter, said a statement from Statistics New Zealand.

"The Canterbury rebuild boosted activity for construction and related services," GDP project manager Jason Attewell said in the statement, reported Xinhua.

"The rest of the economy was a mixed bag, but we are coming off very strong growth in the previous quarter."

A 5.5-percent growth in construction activity, driven by the Canterbury rebuild, led the growth, followed by a 3.9-percent rise in business services activity, also driven by Canterbury and the demand for architectural and engineering services.

However, the country's pillar agriculture sector saw a drop of 4.7 percent as a result of the drought, while information media and telecommunications activity was down 3.1 percent.

"We expect the drought will impact on the economy for several quarters, as lower herd numbers and conception rates will affect future production," Attewell said.

Economic activity for the year to the end of March was up 2.5 percent.

IANS

Source: IANS

 
Update
5

2 weeks ago

Near-drought conditions spread to SE Aust

Oct 7 2014 4:17am CDT | Source: NEWS.com.au

DRY conditions are spreading across eastern Australia, with warm and dry weather predicted for the rest of the year, the Bureau ...
Source: NEWS.com.au   Full article at: NEWS.com.au
 

 
Update
4

2 weeks ago

Bunnies emphatically break 43-year curse

Oct 5 2014 6:15am CDT | Source: Herald Sun

THE 43-year drought is over and the pride of the league is, once again, the pride of the league. Glor ...
Source: Herald Sun   Full article at: Herald Sun
 

 
Update
3

6 weeks ago

Drought of a century grips west

Sep 13 2014 9:00am CDT | Source: The Courier Mail

IT’S tough in the west and it’s getting tougher with farming families in the grip of the worst drought since the 19th century ...
Source: The Courier Mail   Full article at: The Courier Mail
 

 
Update
2

6 weeks ago

Australian Drought Savages Cotton Crop

Sep 9 2014 4:26am CDT | Source: IBTimes UK

New report warns cotton production could tumble by 29% for 2014-2015 harvest amid dry condi ...
Source: IBTimes UK   Full article at: IBTimes UK
 

 

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