In Markets

NZ economic growth fastest in eight years

The New Zealand economy grew 3.3 percent in calendar 2014, the fastest pace since 2007, before the global financial crisis.

Gross domestic product expanded in the fourth quarter of 2014 as tourists drove growth in retailing and accommodation, and property sales increased demand for real estate services.

GDP rose 0.8 percent in the fourth quarter, from a revised 0.9 percent increase three months earlier, according to Statistics New Zealand.

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