New Zealand Economy Grows Fastest in 10 Years as Election Looms
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New Zealand’s economy grew at the fastest pace in 10 years in the second quarter, outperforming most major developed markets as the country prepares to hold an election this weekend.
Gross domestic product increased 3.9 percent from a year earlier, the strongest growth since the second quarter of 2004, Statistics New Zealand said in Wellington today. That beat the 3.8 percent median forecast in a Bloomberg News survey of 10 economists. GDP rose 0.7 percent from the first quarter.