Misc

Soaring growth set to ease with housing market

The economy began the year at a scorching pace but the momentum is expected to flag from here.

Tuesday, June 29th 2004

The 2.3 per cent rise in gross domestic product recorded in the March quarter, and 3.6 per cent for the year, was well above most analysts' forecasts, which were clustered around 1.5 per cent, or the Reserve Bank's pick of 1.3 per cent.

But there are several reasons not to see the result as heralding similar strength to come:

* Quarterly GDP numbers jump around. Over the past year growth saw-toothed between 0.4 per cent, 1.5 per cent, 0.7 per cent and 2.3 per cent. And although Statistics New Zealand discounted any leap-year effect, Bank of New Zealand economist Stephen Toplis said every other leap year the March quarter had been big and the June quarter had been small.

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Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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