IMF: Disasters will slow GDP growth in Australia and New Zealand

04/11/2011 | Bloomberg

The International Monetary Fund reduced its estimates for 2011 gross domestic product growth for Australia and New Zealand because of economic disruptions from earthquakes and floods. The IMF cut its GDP growth forecast for Australia from 3.5% to 3% and from 1% to 0.9% for New Zealand. Reconstruction will help both countries rebound next year, the IMF said.

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