UPDATE: NZ economy grows 0.5% in June quarter, beating expectations

Thu, 19 Sep 2019

(Recasts lead and updates to add economists' comments starting in paragraph four. Updates NZD). By Rebecca Howard Sept. 19 (BusinessDesk) - New Zealand’s economy grew more than expected in the second quarter, with stronger services output offsetting a slide in manufacturing and construction but economists say it won't deter the central bank from cutting rates further. Gross domestic product expanded 0.5 percent in the three months ended June, following a 0.6 percent rise in the March quarter. It was up 2.1 percent from the same quart...

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