"The zero March quarter gross domestic product result is disappointing, but is also three months out of date," Finance Minister Michael Cullen said today.

"Recent evidence points to an increase of growth in the next two quarters.

"The latest merchandise trade figures show exports are booming, consumer and business confidence are both in positive territory, and the Canterbury Manufacturers' Association survey out today shows average export turnover is up 34 percent on last year.

"The annual GDP result is 2.5 per cent. Most of this was driven by exports which rose a healthy 6.8 percent over the year. Goods exports were up 5 per cent, and services - including tourism - were up 12 percent," Dr Cullen 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>>