New Zealand growth has roared back to life with a 1.1 per cent GDP Increase last quarter, but it remains a smaller economy than a year ago.
After posting a shocker negative 0.9 per cent GDP result in the June quarter, which was revised up to 1 per cent in fresh figures from Stats NZ on Thursday, the September quarter provided a significant turnaround.
Manufacturing and business services led the charge, with exports up by 3.3 per cent, including bumper growth in tourism and dairy.
It's been a lumpy year for the Kiwi economy, which has now grown by more than 1 per cent in two of the last five quarters, and shrunk by 1 per cent or more in another two.
The net effect is -0.5 per cent growth for the past year, reflecting a challenging pathway out of the post-pandemic doldrums.
