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New Zealand’s gross domestic product climbed 2.4 percent on year in the first three months of 2021, Statistics New Zealand said on Thursday.

That exceeded expectations for an increase of 0.9 percent following the upwardly revised 0.8 percent contraction in the previous three months (originally -0.9 percent).

On a seasonally adjusted quarterly basis, GDP rose 1.6 percent – again beating forecasts for a gain of 0.5 percent following the 1.0 percent decline in the three months prior.


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