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
7

2 weeks ago

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4 weeks ago

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Update
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Update
4

7 weeks ago

Poor monsoon threatens first drought in five years

Jul 10 2014 9:39pm CDT | Source: Reuters India

NEW DELHI (Reuters) - Weak rainfall in India since the start last month of the monsoon season, crucial to the country's agricultural earnings, has raised concerns of a first drought in five years, although weather experts are hopeful rai ...
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Update
3

7 weeks ago

Poor monsoon threatens first drought in five years

Jul 10 2014 9:39pm CDT | Source: Business Standard

Weak rainfall in India since the start last month of the monsoon season, crucial to the country's agricultural earnings, has raised concerns of a first drought in five years, although weather experts are hopeful rains will revive in the next ...
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Update
1

7 weeks ago

Poor monsoon threatens first drought in five years

Jul 10 2014 12:51pm CDT | Source: Reuters India

NEW DELHI (Reuters) - Weak rainfall in India since the start last month of the monsoon season, crucial to the country's agricultural earnings, has raised concerns of a first drought in five years, although weather experts are hopeful rains will revive in the ne ...
Source: Reuters India   Full article at: Reuters India
 

 

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<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
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