WELLINGTON: New Zealand's economy exceeded expectations to grow 0.8 percentage points in the September quarter as the Rugby World Cup boosted gross domestic product, official data showed Thursday.
Renewed strength in the manufacturing sector also lifted growth, meaning the economy expanded 1.3 percent in the 12 months to September 30, Statistics New Zealand (SNZ) said.
The quarterly result showed the economy bouncing back from growth of just 0.1 points in the three months to June and surpassed market forecasts of an 0.6 point rise.
"Activity in the retail, accommodation, and restaurants industry was certainly boosted by the Rugby World Cup. New Zealanders and visitors to New Zealand," SNZ national accounts manager Rachael Milicich said.
"The big mover in manufacturing was from food, beverage, and tobacco, which had its biggest rise since 2002."
Manufacturing was up 2.3 points over the quarter, with food, beverage, and tobacco surging 6.3 points on the back of increased meat and dairy production in the farm-reliant economy.
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