UPDATE: Tourism props up sagging NZ economy in third quarter

Thu, 17 Dec 2015

(Recasts, adds economist comment) By Paul McBeth Dec. 17 (BusinessDesk) - An influx of big-spending tourists helped revive New Zealand's economic activity in the third quarter of the year, making up for subdued household consumption and a moribund primary sector through the middle of the year. Government data today showed gross domestic product grew 0.9 percent in the three months ended Sept. 30, as the service sector, which accounts for about two-thirds of economy, expanding by the same amount. GDP grew 2.3 percent from the same quar...

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