Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Comment on GDP figure

Hon Trevor Mallard
Acting Minister of Finance

29 September 2006 Media Statement

Comment on GDP figure

Acting Finance Minister Trevor Mallard said today’s GDP result was consistent with market expectations and made the prospect of a soft landing increasingly likely.

GDP grew by 0.5 percent in the June Quarter and 1.9 percent for the year ended June 2006 according to Statistics New Zealand. Growth in the quarter was slightly lower than the market median expectation.

"The domestic economy is easing as a result of a decline in investment spending and a slight reduction in consumer spending. This has led to a reduction in imports. Exports are starting to show signs of life and export growth should continue over the medium term as the dollar falls as part of the normal economic cycle.

"This result today is consistent with the rebalancing we have been expecting in the economy as a result of the slowdown," Trevor Mallard said.

"Yet again the reality of our economic situation flies in the face of alarmist pronunciations from the leader of the opposition who recklessly tried to talk our economy down by predicting a recession earlier in the year. His economic credibility has now taken another hit."


ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news