NZ economy expands 1.0% in 2Q, beating expectations; Kiwi jumps

Wed, 19 Sep 2018

By Rebecca Howard Sept. 20 (BusinessDesk) - New Zealand's economy expanded the most in two years, beating expectations and driving the New Zealand dollar to a three-week high. Gross domestic product expanded 1.0 percent in the June quarter, up from a 0.5 percent rise in the prior quarter, and was up 2.8 percent on the year, Statistics New Zealand said. Economists had expected quarterly growth of 0.8 percent and 2.5 percent annual growth, according to the median in a Bloomberg poll. The central bank was forecasting growth of 0.5 percent....

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