INDEPENDENT NEWS

Growth Figures Good But No Room For Complacency

Published: Fri 27 Sep 2002 02:07 PM
MEDIA RELEASE
27 September 2002
Growth Figures Good But No Room For Complacency - CTU
“The figure of 1.7% for the quarter for production GDP was higher than market predictions and is a welcome sign that the economy is in reasonably good shape,” said Council of Trade Unions secretary Paul Goulter today.
“However, there is no room for complacency,” he said.
“The trade figures in terms of rising imports and falling exports alongside a rising investment income deficit are a reminder that the economy could weaken in the next year or so.”
Paul Goulter said the GDP figures for the June quarter confirm the strong performance of agricultural and manufacturing exports over the recent past.
“For the CTU, the key factors to foster long-term economic growth are investment in education including vocational skills, investment in quality infrastructure, creating a workplace environment that values the role of workers, an expansion of industry economic development processes, and greater dialogue between government, business and unions on productivity issues,” said Paul Goulter.
“What is clear is that the labour market is now a crucial factor in economic growth”, he said.
“That means we need to focus on not only maintaining the momentum in increasing employment, but also address the skills and innovative potential of workers in the labour market”.
ENDS
New Zealand Council of Trade Unions
Te Kauae Kaimahi
The New Zealand Council of Trade Unions Te Kauae Kaimahi brings together over 350,000 New Zealand union members in 40 affiliated unions. We are the united voice for working people and their families in New Zealand.
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