RTTNews - In New Zealand, the capital goods price index or CGPI rose 1.2% sequentially in the March quarter, after a 1.1% increase in the December quarter, the Statistics New Zealand said Monday.
The most significant upward contribution was from the plant, machinery and equipment index, which rose 2.7%, mainly due to the depreciation of the New Zealand dollar. This was followed by a 3.8% rise in the transport equipment index and a 1.6% increase in the other construction index.
On an annual basis, the CGPI climbed 4.9% in the first quarter, reflecting the largest annual increase since the series began in the December 1989 quarter. Last year, in the March quarter, the index was up 2.5%.
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