NZ Economy Could Grow 4.3% Year-on-Year on June Quarter

        0444 GMT [Dow Jones] First NZ Capital's Leading Indicator of Production, or FLIP, is suggesting NZ's annual growth rate could reach 4.3% year-on-year in the June quarter, says FNZC Economist Chris Green. However, around 4.0% is probably "around about as good as it gets" as "if there is more momentum in the economy, I think you can argue that the Reserve Bank will come to the party and lower the growth rate," Green says. The long-term average for annual GDP in New Zealand is around 2.6% to 2.7%, he notes. (rebecca.howard@wsj.com; Twitter: @FarroHoward)
        (END) Dow Jones Newswires

        May 19, 2014 00:44 ET (04:44 GMT)