COVID-19: Record GDP fall, ag sector suffers smallest drop

Record GDP fall, ag sector suffers smallest drop

Field Notes, powered by KPMG, is a weekly news update on news nationally and globally from the agri-food sector.

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Ian Proudfoot

Global Head of Agribusiness, Partner - Audit

KPMG in New Zealand

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record-fall

[17 September, Rural News]

Stats NZ announced the largest recorded drop of 12.2% in Gross Domestic Product (GDP) in the June 2020 quarter, with the smallest drop of 2.2% across agriculture, forestry, and fishing sectors. The largest declines are among retail trade and accommodation, transport, postal, and warehousing. The only industry that grew was financial and insurance service, by 0.7%. 

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