NZ cuts growth outlook, sees tiny budget surplus in 2015

The New Zealand government cut its growth forecast to 2.3 per cent in the year to March from the 2.6 per cent it predicted in May, and slashed the size of its expected 2014/15 budget surplus by two thirds.

In its half-year economic and fiscal update and 2012 budget policy statement, the government also reduced forecasts for the following years and said unemployment would exceed its May calculation to peak at 6.9 pct in the year to March 2013, before easing back to a 6.2 per cent in 2013/14.

via Business feed http://www.scmp.com/business/economy/article/1107334/nz-cuts-growth-outlook-sees-tiny-budget-surplus-2015