Construction fires New Zealand economic growth

The New Zealand economy grew 0.6% in the July-September quarter thanks to a recovery in construction, according to official data released on Thursday.

The quarterly increase in gross domestic product (GDP) was in line with market expectations, bringing annual growth to 3.0%.

"Activity in the construction sector rebounded this quarter, reversing the previous two quarterly declines," said Statistics New Zealand.

"This reflects the increase in construction-related investment, as investments in infrastructure and residential buildings are also increasing sharply."

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