NZ economy grows 0.7% in 2Q as surging services make up for weak primary sector

Wed, 17 Sep 2014

By Paul McBeth Sept. 18 (BusinessDesk) - New Zealand's economy grew just ahead of expectations in the second three months of the year as the fastest growth in the services sector for seven-and-a-half years offset shrinking activity in the primary sector when global commodity prices were coming of highs. Gross domestic product expanded 0.7 percent in the three months ended June 30, ahead of the 0.6 percent pace expected in a Reuters survey of economists, and slowing from the 1 percent pace in the first quarter, according to Statistics New...

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