NZ GDP probably accelerated in 1st-qtr, supporting RBNZ's track for rate hikes

Sun, 15 Jun 2014

By Jonathan Underhill June 16 (BusinessDesk) - New Zealand's economy probably accelerated in the first quarter on construction activity, supporting the central bank's view that it must press on with interest rate increases to keep inflation at bay. The economy grew 1.1 percent in the first three months of the year, from a 0.9 percent pace in the fourth quarter of 2013, economists and the central bank forecast. That would mark the fifth quarter with growth of 1 percent or above in the past six years. Last week, the Reserve Bank said the...

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