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New Zealand economy on the rebound

New Zealand economy on the rebound


After five years in the doldrums the New Zealand economy may be on the rebound. Economists are predicting GDP growth of 3% or more and even the IMF expects growth to pick up to 2.9% – ahead of our Western trading partners (including Australia) and not far behind Asian nations like South Korea and Singapore. The rebuild of the quake-devastated city of Christchurch (home to the current SCAPE Biennale) is one of the major economic drivers, along with a booming dairy industry and better than expected growth in the Chinese economy (New Zealand's second largest trading partner, after Australia).