Thursday, June 12, 2014

IMF gives another tick to New Zealand economy

The latest International Monetary Fund report on the New Zealand economy says economic expansion "is becoming increasingly embedded and broad based." The IMF is forecasting economic growth of 3.5% and predicts that it will not fall below 2.5% over the next few years. 

The economy will be driven by strong construction activity, higher prices for exports and increases in net migration. And a sharp slowdown in China and Auckland's overheated property market remain the two threats to economic growth in New Zealand.

You can read the full report here.