Thursday 22 September 2011

New Zealand: Economic activity slows, GDP up just 0.1pc

Just when are they going to stop using the word “recovery”?

22 September, 2011

New Zealand's economic growth slowed more than expected in the second quarter, as a contraction in the construction and mining sectors hindered the country's recovery.

Gross domestic product grew 0.1 per cent in the three months ended June 30, according to Statistics New Zealand, short of a Reuters survey of economists picking a 0.5 per cent pace of growth and a 0.6 per cent rate forecast by the Reserve Bank.

Statistics NZ revised first quarter growth up 0.1 percentage points to 0.9 per cent, taking annual GDP growth to 1.5 per cent.

For article GO HERE

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