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New Zealand Economy Grows Faster Than Central Bank Forecast

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New Zealand’s economic growth accelerated in the third quarter more than economists and the central bank forecast as low interest rates and record immigration stoked consumption.

Gross domestic product increased 1 percent from the second quarter, when it advanced 0.7 percent, Statistics New Zealand said in Wellington today. That’s more than the median forecast of 0.7 percent from a survey of 12 economists by Bloomberg News. From a year earlier, GDP rose 3.2 percent.