Employer Bulletin | 24 March
"New Zealand’s gross domestic product (GDP) rose 0.7 percent in the December 2024 quarter, following a 1.1 percent decrease in the September 2024 quarter, according to figures released by Stats NZ on Friday
Eleven of the 16 industries increased this quarter. The largest rises were from rental, hiring, and real estate services; retail trade and accommodation; and healthcare and social assistance.
“Higher spending by international visitors led to increased activity in tourism-related industries such as accommodation, restaurants and bars, transport, and vehicle hiring,” economic growth spokesperson Katrina Dewbery said.
The largest falls were in construction, and information media and telecommunications.
Construction fell 3.1 percent in the December 2024 quarter, and has been declining since the March 2024 quarter.
“The fall in information media and telecommunications was driven by decreases in telecommunications and internet services, and broadcasting and internet publishing services,” Dewbery said.
GDP per capita rose 0.4 percent during the December 2024 quarter, its first rise in two years.
The expenditure measure of GDP rose 0.8 percent during the December 2024 quarter, following a 0.9 percent fall in the September 2024 quarter.
Household consumption expenditure rose 0.1 percent this quarter, with increased spending on durable items such as audio-visual and telecommunication equipment."
In today’s Bulletin:
- Employment Court overturns Authority on interim reinstatement claim
- Employee treated “shabbily” and unjustifiably dismissed
- Employee dismissed by text message deemed unjustified
- Authority supports MBIE decision on parental leave request
- Six news updates of interest for employers including: GDP increases 0.7 percent in the December 2024 quarter; Export growth narrows current account deficit to $5.9 billion; RIF delivering for regional NZ, more to come; New associate psychology role to grow the mental health workforce; Consultation opens on draft Patents Amendment Bill, and Final repayment date nears for SBC loans.
- Ten bills open for submission
If you have any questions, about this case or other employment relation matters, call the Advice Line team on 0800 800 362.
