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

 


NZ economy continues to grow

Hon Bill English
Minister of Finance

21 March 2013
Media Statement
NZ economy continues to grow

The economy recorded a lift in growth in the December quarter, consistent with a broad improvement in activity and confidence, Finance Minister Bill English says.

Gross domestic product grew 1.5 per cent in the three months to 31 December, 2012. This took annual growth – from the December quarter 2011 to the December quarter 2012 - to 3 per cent.

“We had had a slightly softer September quarter so it is pleasing to see that growth picked up again in the final quarter of 2012,” Mr English says.

“Indications are that growth will continue this year as consumer and business confidence rises. A lift in household spending signals that people are feeling more secure and optimistic.

“We are also seeing a pick-up in construction activity beyond the re-build in in Christchurch and which will flow-through to other parts of the economy.

“We are on track for 2-3 per cent-plus growth over the next few years though internationally the problems of high debt and low growth remain and, at home, the impact of the drought is very likely to temper overall growth in the economy.

“Those factors make it important for the Government to continue to focus on its Business Growth Agenda initiatives aimed at improving New Zealand’s productivity and competitiveness as a way of fostering job growth and lifting wages.

“As we have previously noted, New Zealand is still performing better than most other OECD countries. New Zealand’s GDP growth of 3 per cent in 2012 compares with 1.6 per cent in the US, 1.1 per cent in Canada, 0.4 per cent in Japan, 0.3 per cent in the UK and -0.9 per cent in the Euro area.

“We expect our growth to continue as the Government retains tight control of its spending, households and businesses pay down debt, and very low interest rates and low inflation continue their long run.”


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Scoop Editor "Ask me anything" : Scoop's 'Invisible Paywall'

Operation Chrysalis: The Final Countdown - Thanks & There's Still Time To Pledge

Phew! We are now counting down the hours to the end of this crowd-funding campaign at 11pm on Sunday. Thankyou to all those Scoop readers and supporters who have pledged already. You have been awesome. But this is not over yet. More>>

 
 

PARLIAMENT TODAY:

IPCA Reports: Significant Problems In Police Custody

In releasing two reports today, the Independent Police Conduct Authority has highlighted a number of significant problems with the way in which Police deal with people who are detained in Police cells. More>>

ALSO:

Inspector-General of Intelligence and Security: Inquiry Into GCSB Pacific Allegations

The complaints follow recent public allegations about GCSB activities. The complaints, and these public allegations, raise wider questions regarding the collection, retention and sharing of communications data. More>>

ALSO:

TPPA Investment Leak: "NZ Surrender To US" On Corporates Suing Governments

Professor Jane Kelsey: ‘As anticipated, the deal gives foreign investors from the TPPA countries special rights, and the power to sue the government in private offshore tribunals for massive damages if new laws, or even court decisions, significantly affected their bottom line’. More>>

ALSO:

Werewolf: The Myth Of Steven Joyce

Gordon Campbell: The myth of competence that’s been woven around Steven Joyce – the Key government’s “Minister of Everything” and “Mr Fixit” – has been disseminated from high-rises to hamlets, across the country... More>>

ALSO:

RMTU: No Public Submissions On International Government Procurement Deal

“The government is preparing to assent to the Government Procurement Agreement, a World Trade Organisation Treaty which opens up New Zealand Government contracts to foreign companies and closes the door on local businesses and their workers. However the Foreign Affairs, Defence and Trade Select Committee is refusing to take public submissions on the decision.” More>>

ALSO:

Gordon Campbell:
On Pacific Spying

So New Zealand spied on its friends and allies in the Pacific – and has not only been passing on the results to the NSA, but has apparently passed on the details of the Pacific’s relations with Taiwan to our other best friends, the Chinese. On the side, the Key government has also been using the security services to gauge the chances of Trade Minister Tim Groser landing the top job at the WTO... More>>

ALSO:

State Housing Transfer: Salvation Army Opts Out

The Salvation Army has decided against negotiating with Government for the transfer of Housing New Zealand stock.
More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news