NZ economic growth fastest in eight years

New Zealand's economy grew 3.3 per cent in 2014, the fastest pace since before the global financial crisis.

The New Zealand economy grew 3.3 per cent in calendar 2014, the fastest pace since 2007, before the global financial crisis.

Gross domestic product expanded in the fourth quarter of 2014 as tourists drove growth in retailing and accommodation, and property sales increased demand for real estate services.

GDP rose 0.8 per cent in the fourth quarter, from a revised 0.9 per cent increase three months earlier, according to Statistics New Zealand.