NZ economy grows 1.4 percent in 3Q, beating estimates, as dairy boom drives activity

Wed, 18 Dec 2013

By Paul McBeth Dec. 19 (BusinessDesk) - New Zealand’s economy grew faster than expected in the third quarter as the country’s dairy sector recovered from drought at the start of the year, driving increased activity. The kiwi dollar climbed against the Australian dollar. Gross domestic product grew 1.4 percent to a seasonally adjusted $37.99 billion in the three months ended Sept 30, from a revised pace of 0.3 percent growth in the June quarter, according to Statistics New Zealand. That beat the 1.1 percent expansion predicted by a Reuters su...

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