New Zealand Economy Grows 2.7 Percent in 2013

New Zealand’s economy grew by 2.7% last year official figures have shown, making it one of the fastest growing nations in the developed world.

Statistics New Zealand said output grew by 0.9% in the three months to December. That marked the country’s 12th consecutive quarter of growth.

Manufacturing grew by 2.1%, – its fastest rate of growth since 2006.

The figures were unlikely to change the Reserve Bank of New Zealand’s policy of tightening interest rates.

New Zealand became the first country to raise interest rates since 2012 this month, when it increased the official bank rate by 0.25 of a percentage point to 2.75%.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza