[17 September/Stuff]

Statistics New Zealand will release figures on how fast the NZ economy grew in the three months to June 30 later this week. Increased farm production during autumn may have seen strong growth in the quarter, however any disappointment could lead towards an interest rate cut. Despite headlines of weak business confidence and the risks it posed to the economy, bank economists believed the economy had picked up. Westpac Chief Economist, Dominick Stephens, said that key drivers indicate the economy could have grown 0.9 percent in the most recent quarter. He added figures would be watched closely by financial markets. The Reserve Bank forecast the economy to grow at 0.5 percent. ANZ economists predicted that the figures would show the economy grew at 0.7 percent. ASB Senior Economist, Jane Turner, predicted the quarter saw the economy grow by 0.9 percent.