UPDATE NZ economic growth keeps rate hike track intact

Wed, 19 Mar 2014

(Updates, adding economist comment) By Paul McBeth March 20 (BusinessDesk) - New Zealand’s pace of growth in the final three months of the year, underpinned by a booming manufacturing sector, won’t derail the Reserve Bank’s path to higher interest rates this year. Gross domestic product grew 0.9 percent to a seasonally adjusted $38.3 billion in the three months ended Dec. 31, from a revised pace of 1.2 percent in the September quarter, according to Statistics New Zealand. That was in line with market expectations and slightly ahead of the...

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