Stronger than expected GDP data for the first three months of 2021 shows New Zealand avoided a second pandemic recession.
Gross domestic product (GDP) rose by 1.6 per cent in the March 2021 quarter, following a 1 per cent fall in the December 2020 quarter, Stats NZ said today.
The New Zealand dollar rose on the news - up 0.4 per cent.
"After an easing of economic activity in the December quarter, we've seen broad-based growth in the first quarter of 2021.
"This is despite Auckland being in alert level 3 lockdown for 10 days, and continued border restrictions," national accounts senior manager Paul Pascoe said.