ZB

Finance Minister says GDP drop is a sign of a difficult 2022

Author
Newstalk ZB,
Publish Date
Fri, 17 Jun 2022, 7:25am
Photo / Supplied
Photo / Supplied

Finance Minister says GDP drop is a sign of a difficult 2022

Author
Newstalk ZB,
Publish Date
Fri, 17 Jun 2022, 7:25am

The Finance Minister admits the drop in gross domestic product isn't good.

GDP has dropped 0.2 percent for the March quarter, following a three percent rise in the previous quarter.

Most sectors did worse than expected, including the primary industry which fell 1.2 percent for a third consecutive quarter.

Grant Robertson told Mike Hosking it's a sign of a difficult 2022.

He says we didn't have tourists here, New Zealand was in the red traffic light setting, which restricted activity and China's Shanghai port has been closed for about a third of the year.

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