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December 8th, 2007

New Zealand home construction rises, adding to economic growth

“It was a fraction on the high side and seems to go against the trend in consents,’’ said Steel, who expects the economy grew 0.7 percent in the quarter. “Over the next six to nine months, we expect a contraction in construction.”

New Zealand’s residential building accelerated in the third quarter, suggesting construction may help economic growth exceed the central bank’s forecast. via The China Post



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