27 November 2001 Media Statement
Confidence survey reflects global uncertainty
Finance Minister Michael Cullen said the latest National Bank survey showing general business confidence still in
negative territory reflected the continuing uncertainty over the global economic outlook.
“Firms are in a wait-and-see mode, which is to be expected given the uncertainties regarding the length and severity of
the world slowdown.
“But the New Zealand economy is better placed to weather the turbulence than most other economies and than at earlier
times in our history. This underlying resilience is evident in the fact that a net 16 percent of respondents remain
optimistic about their own economic prospects over the next 12 months,” Dr Cullen said.
ENDS