17 Dec 2020

Gyles Beckford on current business matters

From Nine To Noon, 11:07 am on 17 December 2020

The New Zealand economy grew at a record 14.0 percent in the three months ended September after contracting more than 12 pct in the previous quarter. The rebounding from recession with record quarterly growth is driven by surging consumer spending.

Official numbers show gross domestic product rose a seasonally adjusted 14 percent for the three months ended September. That compares with a revised 11 percent contraction in the previous quarter. However, the economy is still behind the size it was before the pandemic, with the annual growth rate half a percent.

RNZ Business editor Gyles Beckford joins Kathryn to discuss the results.