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Quarterly GDP bounces back, but COVID still a drag on annual growth – Media release

17 December 2020

Gross domestic product (GDP) rebounded 14.0 percent in the September 2020 quarter, following a revised 11.0 percent fall in the previous quarter where COVID-19 restrictions impacted economic activity, Stats NZ said today.

There were fewer restrictions on activity in the September 2020 quarter than during the COVID-19 lockdown-impacted June 2020 quarter, though Auckland was at alert level 3 in August.

“This resulted in the strongest quarterly growth in GDP on record in New Zealand, as the economy bounced back from the lockdown earlier in the year when non-essential businesses closed,” national accounts senior manager Paul Pascoe said.

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