An increase in consumer spending and the construction boom prompted growth of New Zealand’s economy, Bloomberg reports on Thursday.
According to the available data, demand in the country’s market will remain strong, as well as will contribute to rising inflation next year.
In particular, expert believe that it is surging immigration, record-low borrowing costs and a housing boom that help New Zealand’s economy growing. At present, it is among the fastest growing ones in the developed world.
As chief Australia and New Zealand Economist at Capital Economics in Sydney, Paul Dales, noted, the country’s economy would “continue to grow by an impressive 3.5% next year”.