NZ economy grows 0.6 percent in 2Q, led by milk production; 1Q revised down to 1 percent

Wed, 19 Sep 2012

By Jonathan Underhill Sept. 20 (BusinessDesk) - The New Zealand economy grew at a faster-than-expected clip in the second quarter, driven by record milk production and increased building activity, while growth in the first quarter was trimmed back. Gross domestic product grew 0.6 percent in the three months ended June 30, from a 1 percent pace in the first three months of the year, a revision from the previously published 1.1 percent, according to Statistics New Zealand. Growth of 0.3 percent had been expected in the second quarter, accordin...

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