June 16, 2022 • 8 mins
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.
LISTEN ABOVE
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.
LISTEN ABOVE
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