NZ economy grows more than expected in 3rd qtr as construction boom continues

Wed, 21 Dec 2016

By Paul McBeth Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport services. Gross domestic product grew 1.1 percent in the three months ended Sept. 30, accelerating from a revised 0.7 percent pace in the June quarter, Statistics New Zealand said in a statement. That beat the Reserve Bank's expectations for growth of 1 percent and...

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