NZ economy grows at fastest quarterly pace in three years on surging forestry activity

Wed, 20 Mar 2013

By Paul McBeth March 21 (BusinessDesk) - The New Zealand economy grew at the fastest quarterly pace in three years in the tail-end of last year as demand for forestry exports underpinned gains in the primary sector. The kiwi dollar climbed on the figures. Gross domestic product grew 1.5 percent to $36.81 billion in the three months ended Dec. 31, from a 0.2 percent pace in the September period, according to Statistics New Zealand. That's almost twice the 0.8 percent pace of expansion predicted by the Reserve Bank in its latest forecasts publi...

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