WIRES:

Confidence surprisingly ebullient

Wednesday, 30 May 2001, 8:49 am
Press Release: New Zealand Government

"The reduction in business confidence reflected in the latest National Bank survey is only to be expected given the uncertain world economy," Finance Minister Michael Cullen said today.

"In fact, given the level of external risk, the mood in New Zealand is surprisingly ebullient. Not only do optimists still outnumber pessimists in terms of general conditions, but the all-important "own activity" measure is still in strongly positive territory at net 31 percent," Dr Cullen said.

ENDS

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