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New Zealand's economy grew 0.9% in Sept. quarter, but remains below pre-pandemic levels, with South Island leading due to strong farm exports.
New Zealand’s economy grew 0.9% in the September quarter, but remains below pre-pandemic levels, with South Island regions outpacing the North due to strong performance in dairy, meat, and horticulture.
While farm incomes rose on high dairy payouts and export volumes, urban areas saw job losses and sluggish consumer spending.
Employment fell nationally by 0.6%, with metro areas down 0.8%, though five South Island regions gained jobs, led by the West Coast.
Despite rising orders and modest housing market gains, businesses remain cautious, and the services sector continues to struggle.
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La economía de Nueva Zelanda creció un 0,9% en el trimestre de septiembre, pero se mantiene por debajo de los niveles previos a la pandemia, con la Isla del Sur liderando debido a las fuertes exportaciones agrícolas.