New Zealand has too much debt and it's growing – but the economy is growing too
Transport is up 3.7%, partly due to the tourism boom but also due to a large increase in forestry and logging; manufacturing is up 1.2%; and construction is up 2.1%.
The New Zealand economy ends 2016 on a high, with a 1.1% surge in GDP over the most recent quarter.
That exceeds an average forecast of 0.9%, and takes year-on-year GDP to 3.5%.
That latter figure though is slightly below what most economists – including the Reserve Bank – expected, because
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New Zealand has too much debt and it's growing – but the economy is growing too
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