NZ economy probably recorded fifth straight quarter of growth as tourists trumped farmers

Fri, 16 Dec 2016

By Jonathan Underhill Dec. 16 (BusinessDesk) - New Zealand's economy may have extended its steady rate of growth for a fifth straight quarter with buoyant retailing lifting the services sector and construction on a tear, making up for a weaker primary sector. Gross domestic product grew 0.9 percent in the third quarter, based on a Reuters survey and the Reserve Bank's November forecast. That's also the average of the past five quarters of growth. Annual growth is expected to accelerate to 3.7 percent from 3.6 percent. The Reserve Bank...

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