New Zealand Economy Contracts, GDP Down 0.2 Percent in First Quarter

New Zealand Economy Contracts, GDP Down 0.2 Percent in First Quarter
A woman serves coffee at La Nonna Italian Bakery in Kaiwaka, Northland in Auckland, New Zealand, on Sept. 8, 2021. Fiona Goodall/Getty Images
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New Zealand’s economy contracted during the first three months of the year, with the latest data showing gross domestic product (GDP) fell 0.2 percent.

Statistics New Zealand revealed primary industries led the fall in GDP, down 1.2 percent over the March quarter. Goods producing industries also edged lower by 0.1 percent.