Strong economic growth continues

The Herald reports:

New Zealand’s economy grew at a 3.3 percent annual rate in the first three months of the year, the fastest first-quarter 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 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 New Zealand said. Quarterly growth was below the 1.2 percent expected in a Reuters poll of economists although the annual rate beat the forecast for 3.1 percent.

Three quarters in a row with growth above 1%. If the next quarter is the same, then we’ll be over the 4% growth mark.

 

Comments (23)

Login to comment or vote