New Zealand GDP Gains 0.9% In Q2

New Zealand's gross domestic product climbed 0.9 percent on quarter in the second quarter of 2016, Statistics New Zealand said on Thursday.

That missed forecasts for an increase of 1.1 percent and was unchanged from the upwardly revised 0.9 percent growth in the first quarter (originally 0.7 percent).

Individually, construction was up 5.0 percent, after a 5.1 percent increase in the previous quarter. All construction sub-industries increased.

On a yearly basis, GDP expanded 3.6 percent - matching expectations and up from 2.8 percent in the three months prior.

Household consumption expenditure was up 1.9 percent, driven by spending on services and durable goods.

News are provided by InstaForex