NZ economy grows faster-than-expected 0.9% in third quarter on manufacturing, tourist spending

Wed, 16 Dec 2015

By Paul McBeth Dec. 17 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the third quarter as a rebound in food manufacturing and increased tourism spending stoked activity. Gross domestic product grew 0.9 percent in the three months ended Sept. 30, from a revised of 0.3 percent in the June quarter, according to Statistics New Zealand. That was ahead of the 0.8 percent growth predicted in a Reuters poll of economists, and the Reserve Bank's forecast for expansion of 0.6 percent. GDP grew 2.3 percent from the s...

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