New Zealand economy growth reaches seven-year high

Source: Bloomberg
© scanpix/FP
New Zealand's GDP grew 3.5% during the final three months of 2014, outperforming the median expectation of 3.4%. An unexpected acceleration took place due to a boost in tourist spending, as well as last week Bank of New Zealand's decision, to maintain interest rates unchanged. Governor Graeme Wheeler reckons that robust GDP growth will eventually translate into higher levels of inflation.
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