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New Zealand GDP Spikes 17.4% On Year In Q2

New Zealand's gross domestic product expanded 17.4 percent on year in the second quarter of 2021, Statistics New Zealand said on Thursday.

That exceeded expectations for an increase of 16.3 percent following the upwardly revised 2.9 percent gain in the previous quarter (originally 2.4 percent).

On a seasonally adjusted quarterly basis, GDP was up 2.8 percent - also beating forecasts for 1.3 percent following the downwardly revised 1.4 percent gain in the three months prior (originally 1.6 percent).

Service industries rose 2.8 percent on quarter, while primary industries rose 5.0 percent and goods producing industries rose 1.3 percent.

GDP per capita rose 2.6 percent on quarter, while real gross national disposable income rose 3.4 percent and average annual GDP to June 2021 rose 5.1 percent.

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