NZ government sees economy on faster track on Christchurch rebuild, migration, commodities

Tue, 17 Dec 2013

By Jonathan Underhill Dec. 17 (BusinessDesk) – The government raised its forecast track for economic growth versus the 2013 Budget, saying the Christchurch rebuild, an improving labour market, migrant inflows and booming export commodities will make up for weaker trading partner growth. Gross domestic product will accelerate to 2.7 percent in the year ending March 31, 2014, before peaking at 3.6 percent in 2015, up from the Treasury’s May forecasts of 2.4 percent and 3 percent respectively, according to the Half Year Economic and Fiscal Upda...

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