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%.
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