26 March 2004 Media Statement

GDP result in line with expectations

Finance Minister Michael Cullen said the latest GDP figures showing growth in the December quarter of 0.6 per cent and for the year of 3.5 per cent were in line with expectations of a modest slowdown over the coming year.

“But the economy continues to show resilience as evidenced in the 5.2 per cent increase in exports over the quarter and the lift to 3.7 per cent in business investment,” Dr Cullen said.

ENDS

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