An economic index says New Zealand's economic growth could reach 4 percent.
The First NZ Capital Leading Indicator of Production (FLIP index) estimates economic growth is likely to accelerate to around four percent in the financial year ending this month compared with the 3.5 percent annual growth recorded in the September quarter.
The index combines a number of surveys, including ANZ Bank's activity outlook indicator, as well as Bank of New Zealand's manufacturing and services sector surveys, to give a more up to date view on gross domestic product than historical data from Statistics New Zealand.
Director of economics and strategy at First NZ Capital Chris Green says the index is also forward looking and suggests reasonable momentum in the economy.
