NZ economy grows 0.9 percent in 4Q as manufacturing nears eight-year high

Wed, 19 Mar 2014

By Paul McBeth March 20 (BusinessDesk) - New Zealand’s economy expanded in line with expectations in the final three months of 2013 as manufacturing activity neared an eight-year high, affirming the Reserve Bank’s view that accelerating growth will require higher interest rates to stave off inflation. Gross domestic product grew 0.9 percent to a seasonally adjusted $38.3 billion in the three months ended Dec. 31, from a revised pace of 1.2 percent in the September quarter, according to Statistics New Zealand. That was in line with market...

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