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N.Z. Economic Growth Accelerates to Fastest in Four Years

New Zealand’s economic growth accelerated to the fastest pace in almost four years in the third quarter, strengthening the case for the Reserve Bank to start raising interest rates next year.

Gross domestic product increased 1.4 percent from the second quarter, when it rose a revised 0.3 percent, Statistics New Zealand said in Wellington today. That’s the biggest gain since the final quarter of 2009 and better than the 1.1 percent median forecast of economists in a Bloomberg survey. From a year ago, the economy grew 3.5 percent, the most in six years.