WELLINGTON (Reuters) -New Zealand’s economy grew at a faster pace in the first quarter, as the economy slowly recovered following a technical recession in the middle of 2024.
Official data on Thursday showed gross domestic product (GDP) rose 0.8% in the first quarter from the previous quarter, faster than analysts’ forecasts for a 0.7% increase. The Reserve Bank of New Zealand had forecast the economy to grow 0.4%.
Annual GDP decreased 0.8%, Statistics New Zealand data showed, in line with market expectations.
(Reporting by Lucy Craymer; Editing by Sam Holmes)
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