Economy grows 2.6% but joblessness and retail spending fall

The economy grew 2.6 percent in the June quarter, Infometrics reports, and Stats NZ says concrete volumes rose 12 percent. But unemployment hit 5.6 percent — above the 5.5 percent forecast — with 8,000 more in long-term unemployment. Retail card spending fell 1.4 percent ($98 million) in June. The signals cut both ways for a government facing an election.