New Zealand economy grew faster than expected in Q1

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Source: Forexpros
The GDP of New Zealand expanded at faster pace than initially expected in Q1, reported Statistics New Zealand. The economy of the country grew by 1.1% on a seasonally adjusted basis in Q1 as compared to a 0.3% gain in the preceding quarter.Experts predicted the GDP to grow by 0.5% in Q1. Following the data release, the New Zealand Dollar appreciated against its US peer by 0.31%, with NZD/USD trading at 0.7988 in the Asian session on Thursday.


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