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Posted 9/21/2023, 1:21:00 AM

New Zealand Economy Grows Faster Than Expected in Q2, Avoiding Recession

New Zealand's economy grew 0.9% in Q2 2022, exceeding expectations of 0.5% growth.
Growth was boosted by services and manufacturing sectors rebounding.
Stronger growth may mean the central bank holds interest rates higher for longer to curb inflation.
Annual GDP growth picked up to 1.8%, above expectations of 1.2%.
The data indicates NZ avoided a technical recession despite flat growth in Q1 2022.

reuters.com

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