WELLINGTON (Reuters) – New Zealand’s economy grew more strongly than expected in the last quarter in part due to increases in spending on travel now that the country’s borders are fully open, along with more activity in the construction sector.
Official data out on Thursday showed gross domestic product (GDP) rose 2.0% in the September quarter, beating forecasts of a 0.9% gain and improving on the revised 1.9% rise seen in the second quarter.
Annual growth jumped to 6.4%, as health care, travel and construction all saw significant growth. However, that was also biased down by the timing of various lockdowns in 2021.
(Reporting by Lucy Craymer; Editing by Chris Reese)
