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Construction Rose NZ economic growth


December, 21 2017
watermark Economic news

The economy of New Zealand increased by 0.6 percent during the third quarter due to the rebound in construction, report based on the official data issued on Thursday. The growth in the gross domestic product (GDP) in the quarterly basis coincides with the market expectations, showing an annual rise of 3.0 percent.


According to the Statistic New Zealand, the construction activity picked up this quarter and unwind the decline of the last two quarters. This further indicates an expansion in construction-related investment, as residential buildings and infrastructure investments implied strong growth.


Moreover, construction gained 3.6 percent over the quarter and service industries achieved 0.6 percent along with the leading residential and health care. The  Statistics NZ further stated that primary industries are down to 0.4 percent, partially because of the wet weather that reduced milk production.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.