NZ economy grows as dairy shrugs off drought doldrums, pressure mounts for RBNZ rate hike

Wed, 18 Dec 2013

By Paul McBeth Dec. 19 (BusinessDesk) - New Zealand’s economy grew at its fastest quarterly pace in almost four years, led by a booming dairy sector and as companies prepare for more growth in 2014, adding to the prospects for a hike in interest rates in the first quarter. 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 was the biggest expansion since December 2009, and...

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