1.6 per cent decline in the March quarter GDP due to Covid-19

  • Jun 18, 2020 NZST
  • Team Kalkine
1.6 per cent decline in the March quarter GDP due to Covid-19

As per the Stats NZ’s latest report, the initial effects of COVID-19 restrictions on commercial activity resulted in the decline of the GDP by 1.6 per cent in the March 2020 quarter. The decline in March quarter in GDP is the biggest drop in 29 years.

During March quarter, due to the travel restrictions and beginning of lockdown, there was a general drop in the economic activity. The economic effect of Covid-19 is much more than a small impact of drought in some parts of the country.

 


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