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New Zealand reports tepid growth

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(22 mins ago) New Zealand's economic growth slowed to a crawl in the first quarter of 2013 as a major drought hit the farming sector, official data show. Statistics New Zealand said gross domestic product expanded just 0.3 percent in the three months to March 31, about half the level the market expected. It said the drought meant agricultural output slipped 4.7 percent in the quarter and ...

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