the Rugby World Cup
NZ retail sales get Rugby Cup boost but rates seen on hold
New Zealand retail sales volumes grew more than expected in the December quarter, helped by spending during the Rugby World Cup, but the upbeat data did not alter expectations that interest rates will stay low for now in an uncertain global economy.
Sales volumes, which strip out price movements, rose a seasonally adjusted 2.2 percent in the three months to 31 Dec., data showed on Wednesday, smashing market expectations of a 0.8 percent rise.
NZ economy perks up, but rates on hold
New Zealand's economy grew at its fastest pace in almost two years in the September quarter as manufacturing and retail spending rose during the Rugby World Cup, but markets remained wary of the impact from the European debt crisis and continued to expect low interest rates for longer.
Gross domestic product rose a seasonally adjusted 0.8 percent in the July-September quarter from the second quarter, compared with a 0.6 percent forecast in a Reuters poll and the Reserve Bank of New Zealand.
NZ economy perks up, but rates on hold
New Zealand's economy grew at its fastest pace in almost two years in the September quarter as manufacturing and retail spending rose during the Rugby World Cup, but markets remained wary of the impact from the European debt crisis and continued to expect low interest rates for longer.
Gross domestic product rose a seasonally adjusted 0.8 percent in the July-September quarter from the second quarter, compared with a 0.6 percent forecast in a Reuters poll and the Reserve Bank of New Zealand.
