Finance Minister Bill English remains confident the New Zealand economy will continue to show moderate growth next year.
"We face challenges from increasingly volatile global financial markets, reduced demand for our products in some markets and a high Kiwi dollar.
"But the outlook for New Zealand's exports remains positive and rebuilding in Canterbury will have a positive impact as it picks up next year."
The rebuilding, along with high export prices and interest rates at 40-year lows, gave him confidence the economy would continue to experience moderate growth next year, Mr English said.
Statistics New Zealand figures released yesterday showed gross domestic product (GDP) grew 0.8% in the three months to September, ahead of market expectations of 0.6%.
Annual GDP growth was 1.9%, with the economy growing in nine of the past 10 quarters.
Underpinning the third-quarter growth were Rugby World Cup-related activity, finance insurance and business services, manufacturing and mining activity.
ASB economist Jane Turner said finance, insurance and business services grew much more strongly than she had expected.
The growth appeared to be reasonably broad across the different components.
"This is an encouraging sign of recovery in the financial sector and reflects improvement in underlying domestic demand."
Manufacturing grew strongly, underpinned by an increase in dairy and meat processing.
Dairy production, electricity and construction were drags on GDP growth, as expected, she said.
Wholesale trade and the communications sector also contracted, but Ms Turner still had concerns the methodology for measuring communications understated activity.
The ASB did not expect the third-quarter GDP result to change the Reserve Bank's stance of holding the official cash rate at 2.5% until December next year, she said.
Manufacturing strength was likely to prove temporary.
The central bank would be looking for any further signs the export-focused sectors of the economy were being affected by slower global growth as Europe's debt crisis rolled on, Ms Turner said.
