'Positive': BNZ Head of Research on what latest GDP results say about economy

Economic growth has slowed, with New Zealand getting through the fuel crisis better than feared.

Stats NZ data shows GDP rose 0.2 percent in the June quarter, and annual growth reached a two-year high on 1.7 percent.

Many economists were forecasting a contraction when fuel prices started spiking in March.

BNZ Research Head, Stephen Toplis, says our growth's great, in the circumstances.

"We knew the country was under the cost during that period, largely because of rapidly rising oil prices - and it was struggling. But at least it was struggling with the positive sign in front of it." 

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