Timaru District Quarterly economic monitor - June 2020

| Portal

Gross domestic product (provisional)

Dashboard comparator:

Highlights for Timaru District

  • GDP (provisional) in Timaru District was up 0.6% for the year to June 2020 compared to a year earlier. Growth was higher than in New Zealand (-2.1%).
  • GDP (provisional) was $2,949 million in Timaru District for the year to June 2020 (2019 prices).
  • Annual GDP growth in Timaru District peaked at 4.1% in the year to December 2012.

National overview

Infometrics estimates that economic activity across New Zealand fell 12.6%pa in the June quarter, with year-end economic growth sitting at -2.1%pa. A substantial proportion of the economy was closed or operating at a significantly reduced level, with transport, accommodation, hospitality, retail, tourism, and construction activity taking the greatest hit. This steep fall also accounts for the rapid evolution of the economy back down the Alert Levels, with pent-up demand in the economy, and a rebuilding of economic momentum, helping to temper the four-and-a-half-week collapse in economic activity. Primary sector operations continued on broadly unchanged, helping to keep a base level of economic momentum.