29 March 2001 Media Statement

GDP figures - a good story about sustainable growth

"The GDP figures for December, showing growth of 0.5 percent in the quarter and 3.4 percent in the year, tell the story of an economy on a steady and sustainable growth path," Finance Minister Michael Cullen said today.

"The increase is export and tourism driven and is supported by a strong surge in business investment which was up 4.8 percent over the quarter.

"The results, coupled with a competitive exchange rate, are further evidence that New Zealand has enough economic momentum to sustain a temporary downturn in world demand," Dr Cullen said.

ENDS

© Scoop Media