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New Zealand capital productivity edges up

Xinhua, March 23, 2016 Adjust font size:

New Zealand's capital productivity rose by 0.7 percent in the year to the end of March, the government's Statistics New Zealand agency said Wednesday.

Capital productivity measures the amount of capital inputs available per worker, including land and buildings, inventories and equipment.

When industry output increases at a greater rate than capital inputs, capital productivity increases.

"For the first time since March 2011, the increase in capital productivity was greater than the increase in labor productivity, which was up 0.3 percent in 2015," national accounts senior manager Gary Dunnet said in a statement.

"This was largely due to the relatively stronger growth in labor inputs, up 3.7 percent in 2015."

Output growth was also strong in 2015, rising 4.1 percent, driven primarily by labor inputs, followed by capital inputs, and multifactor productivity which captures the effects of unobserved inputs such as technological progress, efficiency gains and economies of scale. Endit