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

 


New Zealand economy continues to grow


Hon Bill English
Minister of Finance

17 March 2016


New Zealand economy continues to grow


The New Zealand economy notched up another quarter of solid growth, showing that the government’s responsible and consistent economic programme continues to deliver results, Finance Minister Bill English says.

Statistics New Zealand today reported gross domestic product grew 0.9 per cent in the three months to 31 December 2015. This took annual growth over 2015 to 2.3 per cent.

“We had had a softer start to 2015, so it is pleasing to see that growth picked up again in the second half of the year,” Mr English says.

Growth in the December quarter was led by service industries, which make up 70 per cent of the economy and grew 0.8 per cent overall. Agriculture activity fell 1.7 per cent in the quarter, but remains up 3.7 per cent over 2015.

New Zealand’s growth rate of 0.9 per cent in the December quarter compared positively with other developed countries - with 0.6 per cent in Australia, 0.5 per cent in the United Kingdom and 0.3 per cent in the United States. The OECD average was 0.3 per cent.

“Despite the dairy industry doing it tough at the moment, we are in the unusual situation of solid growth, more employment and higher wages, but very low inflation.

“The outlook remains for continued moderate economic growth. In fact Treasury’s Half-Year Update forecast growth averaging around 3 per cent over calendar 2016 and 2017.

“The government is focused on responsible and consistent economic reform to give businesses the confidence to invest another dollar and employ another person in order to deliver more jobs and higher wages for New Zealand families.”

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Departure Speech: Governor-General’s State Farewell Luncheon

"...Unfortunately I was unable to get to the Antarctic, the Chatham Islands and the Kermadecs. A dicky heart thwarted our travel to the Antarctic; and even though I volunteered to parachute into the Kermadecs to join the Young Blake expedition, time, commitments and officials frustrated my plans to visit the Kermadecs and Chathams." More>>

ALSO:

New Research: Most Homeless People Working Or Studying

“The cost of housing has been rising without corresponding increases in income, whilst the number of state houses per capita has been in decline. Many low-income people are missing out on housing, whether we recognise them as ‘homeless’ or not. More>>

ALSO:

Post-Traynor: New Offender Info Sharing Plan

“This Bill delivers on that step-change by moving away from name-based records held by individual agencies to a shared, anchor identity based on unalterable information, such as fingerprints and facial recognition. It also gives agencies access to the drivers’ licence photo database and birth, death and marriages information." More>>

  • NZ Law Foundation - New $2M fund for research on information challenges
  • Littoral: New Ship To Deliver Enhanced Naval Capability

    Defence Minister Gerry Brownlee says the Government has approved a Ministry of Defence and New Zealand Defence Force recommendation to request tenders for a new naval ship to support littoral operations. More>>

    July:

    After King's Labour Snub: Māori Party And Kiingitanga To Work Together

    Māori Party Co-leaders Te Ururoa Flavell and Marama Fox met with Kiingitanga representatives in Wellington yesterday to discuss working together on key issues for the betterment of Māori. More>>

    ALSO:

    Waitangi Claim On Rehabilitation: The 'Justus' System For Māori Not Good Enough

    Closing statements at the Waitangi Tribunal case against Corrections called for immediate steps and a comprehensive review to address the high rate of Māori reoffending. More>>

    ALSO:

    Advice: PM Sets Rules For Ministers' Treatment Of Public Servants

    Prime Minister John Key has laid down the law about the way ministers and public servants should interact, saying ministers may not always like the advice they receive, but they must listen to it carefully, respectfully and professionally. More>>

    Gordon Campbell: On The Funding Changes In Special Needs Education, And Uber

    The plan to strip out the educational support for older “special needs” children in order to meet the existing shortfall in funding for special needs in early childhood education is so miserly and relentlessly stupid as to defy belief… More>>

    SPECIAL EDUCATION (& More):

    Online Learning Plans:

    Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
     
    Parliament
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news