Low business confidence levels expected - Cullen

“The weakness in headline business confidence is unsurprising given the sluggish state of the world economy and the uncertainties affecting both the global and the New Zealand environment,” Finance Minister Michael Cullen said.

He was commenting on the latest National Bank Business Outlook

“I have in recent speeches been indicating to the public that growth will slow this year after the rapid pace of 2002.

“But the medium term outlook remains solid and Budget 2003 will continue the government’s prudent approach to fiscal management while at the same time delivering on our key policy commitments.”

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