NZ Economy Surprises with 2.6% Growth Despite Conflict Uncertainty

New Zealand's economy has defied expectations by growing at a rate of 2.6% in the June quarter, and 1.7% over the year.

This is despite ongoing uncertainty due to the Middle East conflict, and rising unemployment which reached an 11-year high of 5.6%

The growth is broad-based, with all 16 regional economies expanding over the year, according to Infometrics principal economist Nick Brunsdon

However, employment growth has lagged behind, with job numbers rising just 0.4% nationally in the quarter.