New Zealand: Economic activity surpasses expectations in Q2

By FXstreet.com,  September 19, 2012, 06:55:00 PM EDT

FXstreet.com (San Francisco) - According to Statistics New Zealand, New Zealand's economy grew stronger than expected at a Gross Domestic Product ( GDP ) rate of 0.6% (0.3% cons.) in the June quarter of 2012 from Q1, and at a rate of 2.6% (cons. 2.4%) in the year ended June 2012.

"Agriculture (up 4.7 percent) was the largest contributor to economic growth this quarter," while "Construction (up 3.3 percent) and manufacturing (up 0.8 percent) also increased," the statistics agency reported Thursday.

The expenditure measure of GDP was up 0.3% in the June 2012 quarter, and, in the year to Q2, expenditure on GDP was up 1.7%, Statistics New Zealand reported.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks: GDP



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