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Moody's: New Zealand's economic growth supports Aaa rating
Moody's Investors Service says that New Zealand's economy is growing strongly, despite a steep fall in dairy prices during 2014. Construction, partly in relation to the rebuilding of Christchurch after the 2011 earthquakes, and also in the Auckland housing market, has been an important contributor to growth. As a result, Moody's expects New Zealand's real GDP to rise to close to 3% during 2015 and to remain robust through 2016. Moody's says New Zealand's strong economic profile is reinforcing government finances, with a return to budget surpluses expected in the 2015-16 fiscal year and thereafter. As for the stable ... (full story)