UPDATE: NZ economy grows faster-than-forecast 0.7% in first quarter; kiwi dollar jumps

Thu, 16 Jun 2016

(Adds economist comment starting in fourth paragraph, updates dollar) By Tina Morrison June 16 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the first quarter of 2016 as construction expanded at the quickest rate in two years. The kiwi dollar jumped after the data was released. Gross domestic product expanded 0.7 percent in the three months ended March 31, from a 0.9 percent pace in the final quarter of 2015, Statistics New Zealand said. That's ahead of the 0.5 percent forecast in a Reuters poll of econo...

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