Investing.com – New Zealand’s gross domestic product rose more-than-expected in the third quarter, boosted by strong manufacturing and retail spending, official data showed on Thursday.
In a report, Statistics New Zealand said that New Zealand’s economy expanded by a seasonally adjusted 0.8% in the three months to September, beating expectations for a 0.6% gain.
New Zealand’s gross domestic product grew by an unrevised 0.1% in the preceding quarter.
New Zealand’s economy expanded at an annualized rate of 1.9% in the third quarter, falling short of expectations for a 2.2% increase, after rising at a rate of 1.1% in the preceding quarter.
Following the release of the data, the New Zealand dollar was fractionally lower against its U.S. counterpart, with NZD/USD easing down 0.06% to trade at 0.7700.
In a report, Statistics New Zealand said that New Zealand’s economy expanded by a seasonally adjusted 0.8% in the three months to September, beating expectations for a 0.6% gain.
New Zealand’s gross domestic product grew by an unrevised 0.1% in the preceding quarter.
New Zealand’s economy expanded at an annualized rate of 1.9% in the third quarter, falling short of expectations for a 2.2% increase, after rising at a rate of 1.1% in the preceding quarter.
Following the release of the data, the New Zealand dollar was fractionally lower against its U.S. counterpart, with NZD/USD easing down 0.06% to trade at 0.7700.