UPDATE: NZ economy grows at 3.3% annual rate as construction posts largest increase in 14 years

Thu, 19 Jun 2014

By Tina Morrison (Adds economist comment starting in fourth paragraph.) June 19 (BusinessDesk) - New Zealand’s economy grew at a 3.3 percent rate in the year through March, the fastest pace in eight years, supporting the central bank’s view that it must press on with interest rate increases to keep inflation at bay. The economy grew at a 1 percent pace in the first three months of the year, from an upwardly revised 1 percent gain in the fourth quarter, marking three quarters of growth at 1 percent or above, Statistics NZ said. Quarterl...

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