NZ economy grows 0.8% in fourth quarter, on tourist spending, heated housing market

Wed, 18 Mar 2015

By Jonathan Underhill March 19 (BusinessDesk) - The New Zealand economy expanded in the fourth quarter as tourists drove growth in retailing and accommodation, and property sales increased demand for real estate services. Gross domestic product rose 0.8 percent in the fourth quarter, from a revised 0.9 percent increase three months earlier, according to Statistics New Zealand. The economy grew 3.3 percent in calendar 2014, the fastest pace since 2007, before the global financial crisis. The pace of growth broadly matched expectations i...

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