Wage gains in New Zealand accelerated in the second quarter
N.Z. Second-Quarter Wages Rise at Faster Pace, Gaining 0.5%.Income is growing as New Zealand’s economy recovers from a lull in consumer and company spending last year and a series of earthquakes that devastated the southern city of Christchurch.Central bank Governor Alan Bollard last week signaled he is preparing to raise the official cash rate from 2.5 percent to counter inflation pressure.Average ordinary-time hourly earnings for non-governmental workers rose 1.2 percent in the quarter, the statistics agency said in its quarterly employment survey.
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