Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Cullen On Confidence Survey

Finance Minister Michael Cullen said today that the drop in optimism shown in the NZIER March survey of business opinion was not surprising given the survey's base and the deteriorating global economy.

"Some fall was to be expected as sentiment in New Zealand was bound to be affected to some degree by the deterioration in the Australian and United States economies," Dr Cullen said.

However the NZIER result - showing pessimists slightly outnumbering optimists - contrasted sharply with the National Bank March Outlook which had a net 30 percent expecting general business conditions to improve and a net 40 percent expecting their own business activity to increase over the next 12 months.

"The difference in results may reflect the fact that the National Bank sample includes the [currently thriving] agricultural sector which the NZIER does not.

"There may also be an element of correction in the NZIER survey," Dr Cullen said. "It recorded a huge swing in the December quarter - from negative 40 percent in September to positive 21 percent - suggesting that the December result probably overstated the strength of confidence."

Dr Cullen noted that the NZIER had itself observed that, although the headline confidence figure fell, other measures of business capacity including capacity utilisation and domestic trading activity remained relatively strong.

"This suggests there is still sufficient momentum in the economy to propel us through any short-term slowdown in world growth," he said.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods ( is the dollar up or down? ) last night’s outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country..>>>More


Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome | Greens on their joining Govt | EDS welcomes new govt | Immigrant groups worry | Feds ready to engage new coalition government | Labour Ministers of the Crown announced


Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>


Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>


Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>


Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>


Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>


Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>




Featured InfoPages

Opening the Election