3.3% annual growth

Stats NZ reports:

New Zealand’s economy grew 0.8 percent in the last three months of 2014, led by retail and accommodation, Statistics New Zealand said today.

Combined with increases in real estate services and manufacturing, this boosted growth for the December 2014 year to 3.3 percent. This is the highest annual increase since 2007, before the global financial crisis.

Excellent.

Manufacturing activity was also up this quarter, with an increase of 1.0 percent.

That manufacturing crisis continues.

A useful graphic to put the sectors in perspective.

The annual growth by sector is:

1. Construction +11.7%
2. Retail +7.0%
3. Mining +5.6%
4. IT/Comms +4.5%
5. Public Admin +4.2%
6. Primary Industries +4.1%
7. Health +3.4%
8. Financial +3.0%
9. Professional +2.9%
10. Real Estate +2.3%
11. Manufacturing +2.0%
12. Wholesale +1.8%
13. Arts +1.5%
14. Education +0.7%
15. Transport +0.4%
16. Utilities -2.2%

So while construction helps, this show many sectors also booming.