New Zealand economics

Prime Minister John Key, who is the new pm of New Zealand has recently told reporters in Wellington, that "New Zealand's worst recessions" is nearly over.“We’ll be growing in this quarter,” Key told reporters in Wellington today. “We’ll continue to grow more aggressively as the world recovers.”New Zealand began contracting in the first quarter of last year and has been buffeted as falling world demand curbed exports, which make up 30 percent of gross domestic product. The economy probably experienced its sixth, and last, contraction in the second quarter, the nation’s Treasury said earlier today. This is terrific news for the New Zealand economy, which is starting to grow stronger.Low interest rates and a two-year high in net immigration have bolstered consumer spending and demand for houses, while the New Zealand dollar’s 37 percent gain against its U.S. counterpart in the past six months has curbed exports.