New Zealand: Staff Report for the 2014 Article IV Consultation
International Monetary Fund. Asia and Pacific Dept
Jun 2014 · International Monetary Fund
Ebook
38
Pages
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About this ebook
This 2014 Article IV Consultation highlights that the economic expansion in New Zealand is becoming increasingly embedded and broad based, with growth exceeding 3 percent in the second half of 2013. The drivers include supportive financial conditions, record high export commodity prices, resurgent construction activity related to the Canterbury post-earthquake rebuild and general housing shortages, and a substantial increase in net immigration. Growth is expected to increase to about 31⁄2 percent in 2014 and moderate to a trend rate of 21⁄2 percent over the medium term. Strong construction activity is expected to remain an important driver for near-term growth.
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