"The June National Bank business outlook showing a net 32 percent of respondents expect activity in their own businesses to expand over the next 12 months is encouraging," Finance Minister Michael Cullen said today.

"Most commentators regard the own activity measure as more accurate than the
survey on general business conditions, although this has also stabilised and remains in positive territory."

Dr Cullen was particularly heartened by the continuing bullishness around exports: 43.9 percent of those surveyed expected real exports to increase, 50 percent thought they would continue at current levels, and only 6.1 percent thought they would drop.

"The latest balance of payments figures showed a significant improvement in New Zealand's external accounts. These results - plus the much stronger than expected merchandise trade surplus announced yesterday - would suggest that trend will continue," he said.

Ends

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Gordon Campbell: On the Sony cyber attack

Given the layers of meta-irony involved, the saga of the Sony cyber attack seemed at the outset more like a snarky European art film than a popcorn entry at the multiplex.

Yet now with (a) President Barack Obama weighing in on the side of artistic freedom and calling for the US to make a ‘proportionate response’quickly followed by (b) North Korea’s entire Internet service going down, and with both these events being followed by (c) Sony deciding to backtrack and release The Interview film that had made it a target for the dastardly North Koreans in the first place, then ay caramba…the whole world will now be watching how this affair pans out. More>>