Economic growth has slowed, with New Zealand getting through the fuel crisis better than feared.

Stats NZ data shows GDP rose 0.2 percent in the June quarter, and annual growth reached a two-year high on 1.7 percent.

Many economists were forecasting a contraction when fuel prices started spiking in March.

BNZ Research Head, Stephen Toplis, says our growth's great, in the circumstances.

"We knew the country was under the cost during that period, largely because of rapidly rising oil prices - and it was struggling. But at least it was struggling with the positive sign in front of it." 

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Economic growth has slowed, with New Zealand getting through the fuel crisis better than feared.
Stats NZ data shows GDP rose 0.2 percent in the June quarter, and annual growth reached a two-year high on 1.7 percent.
Many economists were forecasting a contraction when fuel prices started spiking in March.
BNZ Research Head, Stephen Toplis, says our growth's great, in the circumstances.
"We knew the country was under the cost during that period, largely because of rapidly rising oil prices - and it was struggling. But at least it was struggling with the positive sign in front of it."&nbsp;
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Stephen Toplis: BNZ Head of Research on what the second quarter GDP results mean for the economy

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/fa865716-4384-447d-94cb-b4c800665b7e/transcript