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

 


NZ maintains steady economic growth

Hon Bill English

Minister of Finance

19 September 2013
Media Statement

NZ maintains steady economic growth

New Zealand’s economy continues to grow steadily, maintaining one of the higher annual growth rates in the OECD, Finance Minister Bill English says.

As expected, the severe drought earlier this year slowed economic growth in the June quarter, with statistics out today showing gross domestic product grew 0.2  per cent in the three months to June 30.

However, annual growth – from the June quarter 2012 to the June quarter 2013 – remained relatively strong at 2.5 per cent. This compares with growth over the same period of 2.6 per cent in Australia, 1.6 per cent in the US, 1.4 per cent in Canada, 1.3 per cent in Japan, 1.5 per cent in the UK and -0.5 per cent in the Euro area.

“It’s pleasing that despite the worst drought in 70 years, New Zealand still achieved one of the higher annual growth rates in the OECD,” Mr English says.

“While the June quarter was affected by a fall in agricultural production - down 6.4 per cent - growing conditions since then have been good, business and consumer confidence have been high and the Canterbury rebuild continues apace.

“All these factors mean that we can anticipate relatively strong growth resuming in the September quarter. As the Reserve Bank Governor has noted, New Zealand is one of the fastest growing economies in the developed world and that growth is expected to be maintained, and become more broadly based over the next couple of years.

“However, real risks and challenges remain in the global economy, especially for our most important trading partners. Today’s GDP result demonstrates the importance of the Government sticking with its proven policies aimed at keeping tight control of its spending, reducing the need for borrowing, and encouraging the job growth that in turn supports New Zealand families.” 

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

"New Faces, Wise Heads": Andrew Little Announces New Labour Line Up

Labour Leader Andrew Little today announced a bold new caucus line up which brings forward new talent and draws on the party’s depth of experience.

“Labour has many new and highly capable MPs who will have the opportunity to prove their ability. At the same time our senior hands will be on deck to take the fight to the National-led Government and support our upcoming stars,” Andrew Little says.

“I am pleased to announce Annette King will be my deputy for the coming year. In recent weeks she has shown how crucial her wisdom and strength is to Labour. More>>

 

Parliament Today:

Gordon Campbell: On Rick Ellis As Te Papa’s New CEO

The recent appointment of former TVNZ boss Rick Ellis to head Te Papa has copped a fair bit of criticism. Much of it has been inspired by the suspicion that Ellis has been hired to pursue the same purely commercial goals as he did at TVNZ, while similarly neglecting the serious cultural side of his mandate. More>>

Passport Cancellation, Surveillance: Draft 'Foreign Fighters Legislation' Released

The final draft of the Countering Terrorist Fighters Legislation Bill contains proposals previously announced by Mr Key in a major national security speech earlier this month. More>>

ALSO:

Related

Joint Statement: Establishment Of NZ-China Strategic Partnership

At the invitation of Governor-General Lt Gen The Rt Hon Sir Jerry Mateparae and Prime Minister The Rt Hon John Key of New Zealand, President Xi Jinping of the People’s Republic of China made a state visit to New Zealand from 19 to 21 November 2014... More>>

ALSO:


Savings Targets: Health Procurement Plan Changes Direction

Next steps in implementing DHB shared services programme Health Minister Jonathan Coleman says the Government has agreed to explore a proposal put forward by DHBs to move implementation of the shared services programme to a DHB-owned vehicle. More>>

ALSO:

More on Health Policy:

Auckland Unification: 'No IT Cost Blowout' (Just More Expensive)

Following discussion of an update on Auckland Council’s Information Services Transformational Programme at today’s Finance and Performance Committee, council has released the report publicly. More>>

ALSO:

Other Expensive Things:

Gordon Campbell: On The SAS Role Against Islamic State, And Podemos

Only 25% of the US bombing runs are even managing to locate IS targets worth bombing. As the NYT explains at length, this underlines the need for better on-the-ground intelligence to direct the air campaign to where the bad guys have holed up... More>>

ALSO:

Public Service: Commission Calls For Answers On Handling Of CERA Harassment

EEO Commissioner Dr Jackie Blue is deeply concerned about the way in which the State Services Commission has handled sexual allegations made against CERA chief executive Roger Sutton this week and is calling for answers. More>>

ALSO:

Gordon Campbell:
On Andrew Little’s Victory

So Andrew Little has won the leadership – by the narrowest possible margin – from Grant Robertson, and has already been depicted by commentators as being simultaneously (a) the creature of the trade unions and (b) the most centrist of the four candidates, which would be an interesting trick to see someone try in a game of Twister. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news