INDEPENDENT NEWS

Robust Growth Figure - Cullen

Published: Fri 28 Jun 2002 11:35 AM
28 June 2002
“The March GDP results, showing growth of 1.1 percent over the quarter and 3.2 percent over the year, are in line with both Treasury forecasts and the market consensus and indicate an economy in good heart,” Finance Minister Michael Cullen said today.
“The growth was driven primarily by exports and by household spending which rose 1.5 percent over the quarter. Continuing high consumer confidence levels indicate that spending will remain buoyant into subsequent quarters.
“By far the biggest contributor to the growth in exports was tourism and reflects the strong bounce back in the industry since 11 September.
“But goods also contributed with a 2 percent increase,” Dr Cullen said.
Ends

Next in New Zealand politics

Concerns Conveyed To China Over Cyber Activity
By: New Zealand Government
Parliamentary Network Breached By The PRC
By: New Zealand Government
GDP Decline Reinforces Government’s Fiscal Plan
By: New Zealand Government
Tax Cuts Now Even More Irresponsible
By: New Zealand Labour Party
New Zealand Provides Further Humanitarian Support To Gaza And The West Bank
By: New Zealand Government
High Court Judge Appointed
By: New Zealand Government
View as: DESKTOP | MOBILE © Scoop Media