New Zealand Labor Productivity Falls In March 2009 Year

(RTTNews) - Statistics New Zealand said on Tuesday that total labor productivity in the country dropped 1.5% in the year to March 2009.

The decline in productivity was driven by the fall in real gross domestic product of 2.2%, while workforce hours fell 0.7%.

"Productivity declined in the March 2009 year as the New Zealand economy went into recession. There was a large drop in output, with labor taking longer to respond to the fall in demand. This led to a significant fall in labor productivity," economic statistics development manager Jude Hughes said.

Meanwhile, capital investment in New Zealand increased 3.3% through the March 2009 year.