Gross Domestic Product: December 2008 quarter

Embargoed until 10:45am  –  27 March 2009

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Media release  – 
Fourth quarter of economic contraction

Highlights

  • Economic activity decreased 0.9 percent in the December 2008 quarter, the fourth consecutive decrease.
  • In the December 2008 quarter, activity in goods producing industries decreased 3.6 percent and increased 0.8 percent in service industries.
  • Annual growth in gross domestic product was up 0.2 percent for the December 2008 year.
  • Gross fixed capital formation decreased 5.3 percent in the December 2008 quarter.
  • Household consumption expenditure was flat in the latest quarter, following three quarters of decline.
  • Real gross national disposable income increased 1.9 percent for the year ended December 2008.

Graph, Gross Domestic Product.

 Geoff Bascand 27 March 2009 
 Government Statistician ISSN 1178-0290 

 

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