NZ's GDP growth probably slowed in 3rd qtr as dairy decline offset buoyant construction

Fri, 15 Dec 2017

By Rebecca Howard Dec. 15 (BusinessDesk) - The New Zealand economy probably expanded at a slower pace in the third quarter as a bounce in construction was offset by declines in dairy production and housing-related spending. Gross domestic product grew 0.6 percent in the three months ended Sept. 30 and 2.4 percent from a year earlier, according to the median in a Bloomberg poll of 15 economists. The Reserve Bank projects quarterly growth of 0.7 percent in the third quarter, while the Treasury yesterday lowered its forecast to 0.6 percent f...

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