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Slide in confidence expected - Cullen

Friday, 27 February 2004, 11:15 am
Press Release: New Zealand Government

27 February 2004 Media Statement

Finance Minister Michael Cullen said latest National Bank survey showing a slide in general business confidence from net 16 per cent negative to net 28 per cent since December was unsurprising given the impact of the high dollar on exports.

“But the data also point to continuing strong momentum in the economy. The own activity indicator is still firmly in positive territory and employment and investment intentions are robust.

“This should provide a buffer against any slowdown in growth,” Dr Cullen said.

ENDS

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