Growth in the transport and communications industry was especially vibrant, amounting to approximately 7,2 per cent per annum. A relatively strong performance of this sector, driven by technology and tourism, is likely for many years to come. Viewed from the expenditure side, gross fixed capital formation picked up from extremely low levels, growing at a rate of 5,1 per cent per annum.
Those speculating in the New Zealand dollar need to be aware that the exchange rate is not a one-way bet; they need to be cautious.