Economy grows just 0.3 after drought – kiwi falls

The New Zealand economy grew at half the pace analysts were expecting in the first three months of the year as drought across the North Island sapped milk production and dragged the agriculture sector down. The kiwi dollar fell as low as 78.38 US cents from 78.90 cents immediately before the figures were released. Gross domestic product grew 0.3 percent to $37.1 billion in the three months ...