New Zealand slow- down

Economists predict 0.3pc GDP growth

NZ Herald,

17 September, 2012

The New Zealand economy's pace probably slowed in the second quarter from the first, though forecasts range from a small contraction to a modest 0.7 per cent rise as economists ponder the impact of a strong kiwi dollar on manufacturing and the timing of Christchurch's rebuild.

A Reuters survey of 13 economists predicts gross domestic product grew 0.3 per cent in the second quarter, slowing from the first quarter's 1.1 per cent pace. That's slower than the 0.6 per cent pace forecast in the Reserve Bank of New Zealand's monetary policy statement, issued last week, in which it revised growth predictions down sharply from its previous estimate

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