360° Coverage : Drought slows New Zealand economic growth

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Drought slows New Zealand economic growth
Photo Credit: PHILIPPE HUGUEN, Getty Images

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
6

4 days 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
5

1 week 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 ...
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4

4 weeks ago

Severe Drought In China’s Northern Bread Basket Threatens Harvests

Aug 15 2014 9:37am CDT | Source: BusinessWeek

Northeast China is the corn and wheat-growing region of the country. The worst drought since record keeping started is threatenin ...
Source: BusinessWeek   Full article at: BusinessWeek
 

 
Update
3

6 weeks ago

10 cities running out of water

Aug 2 2014 5:48am CDT | Source: USATODAY

After multiple unusually dry years across the western, southern and central United States, more than 80% of California is now in a state of extreme or exceptional drought.         ...
Source: USATODAY   Full article at: USATODAY
 

 
Update
2

8 weeks ago

Ten Million Green Revolutions: African Agriculture's New Front Line

Jul 23 2014 10:06am CDT | Source: Forbes Real Time

Plastic water canisters are lined up in long queues outside the pump houses by the side of the road in Emali, Eastern Kenya. Dead stalks of maize stand all along the roadside, victim to a drought that has ruined crops across Makueni County. The kind of droughts that happened on ...
Source: Forbes Real Time   Full article at: Forbes Real Time
 

 

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<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

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