30 July 2004 Media Statement

Confidence figures encouraging - Cullen

“The latest National Bank Business Outlook showing a stronger than expected increase in business confidence is encouraging,” Finance Minister Michael Cullen said today.

“The increase in the important own activity indicator to net 30 per cent positive significantly exceeded market expectations and points to continuing strong momentum in the economy.

“Investment and employment intentions also remain robust,” he said.

“Clearly rising oil prices and rising interest rates will take some of the blush off the rose. And it is important to remember that, although headline confidence has risen sharply over recent months, it is still in negative territory.

“But the results of this survey reinforce what has been a steady stream of good economic data and augur well for the economy’s ability to weather any volatility ahead,” 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>>