NZ shares rally as economy edges out of recession

NZ shares rally as economy edges out of recession
Turnover was $130 million. (Image: Getty)
Paul McBeth
New Zealand shares rallied as data showed a swelling population helped drag the economy out of recession. The S&P/NZX 50 index rose 100.62 points, or 0.9%, to 11,771.81. Across the main board, 90 stocks gained, 45 fell and 46 were unchanged. Turnover was $130 million. Government data showed gross domestic product grew 0.2% in the March quarter, with primary production a tailwind for the economy. Still, strong migration underpinned overall spending and GDP shrank 0.3% on a per capita basis, its sixth quarterly contraction in a row....

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