New Zealand Q2 economic growth disappoints
WELLINGTON: New Zealand’s farm-dependent economy is growing more slowly than expected, official figures showed on Thursday, feeding expectation of further interest rate cuts.
Statistics New Zealand said the economy expanded 0.4% in the three months to June, below consensus forecasts of 0.6%. That pushed down annual growth in gross domestic product (GDP) to 2.4%, after 3.3% for 2014, and to the lowest in two years with economists expecting it to fall further.
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WELLINGTON: New Zealand’s farm-dependent economy is growing more slowly than expected, official figures showed on Thursday, feeding expectation of further interest rate cuts.
Statistics New Zealand said the economy expanded 0.4% in the three months to June, below consensus forecasts of 0.6%. That pushed down annual growth in gross domestic product (GDP) to 2.4%, after 3.3% for 2014, and to the lowest in two years with economists expecting it to fall further.
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