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String Of Economic Good News Continues - Cullen

The latest National Bank regional survey shows the export recovery is beginning to percolate through to the domestic sector, Finance Minister Michael Cullen said today.

Dr Cullen was commenting on the September quarter results showing growth of 0.9 percent nationwide and activity rebounding sharply in Auckland, Wellington and Christchurch.

"This is the latest in a string of good economic news as the country heads into the holiday season," he said.

"The ANZ Newspaper Job Ads series for November shows that ad volumes are at record highs in all regions other than Auckland, and even in Auckland they held ground.

"The terms of trade index is now at its highest level for almost five years.

"And New Zealanders are starting to feel optimistic again. The latest TV3/CM Research poll showed 68 percent of respondents now believe the economy will improve over the next three months.

"It has been a difficult winter but we are looking forward to a good strong summer," Dr Cullen said.

Ends



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