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New Zealand bounces back with record growth as pandemic measures eased

·1 min read

WELLINGTON, Dec 17 (Reuters) - New Zealand's gross domestic product rose a record 14.0% in the third quarter as measures to stop the spread of the coronavirus pandemic were eased, official data showed on Thursday. That is higher than economists' forecasts in a Reuters poll that predicted production-based growth at 13.5% for the quarter. Annual GDP rose 0.4%, Statistics New Zealand said in its report, compared to expectations of a 1.3% contraction. The GDP numbers also topped forecasts of the Reserve Bank of New Zealand that had pencilled a quarterly and annual growth of 13.4% and -1.3% respectively. The New Zealand Dollar rose 0.4% to $0.7114 after the announcement. (Reporting by Praveen Menon; Editing by Rosalba O'Brien)