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

Werewolf: John Pilger, And Making War On China

In July, the New Zealand Defence Force is scheduled to join the latest round of Talisman Sabre, a huge training exercise that Australia carries out biennially in conjunction with all four arms of the US military.

Last time around in 2015, New Zealand contributed 650 personnel, 45 vehicles and two of our $NZ771 million dollar fleet of NH90 helicopters to this regional war game.

What’s weird is that Talisman Sabre is actually a rehearsal for an assault on China and its ability to defend itself. More>>

ALSO:

 
 

Urban Planning Report: Momentum Grows To Replace The RMA

A major new report from the Productivity Commission lays the foundation for action on the growing political consensus that the Resource Management Act and associated laws are failing both cities and the natural environment and need a complete rewrite. More>>

ALSO:

Vaping: Quitline Supports Decision To Legalise Nicotine E-Cigarettes

Today Associate Minister of Health, Hon Nicky Wagner has announced that Government are taking the proactive step of legalising nicotine e-cigarettes, a move which Quitline is pleased to hear and support wholeheartedly. More>>

ALSO:

Gordon Campbell: On The Labour/Greens Deal (And The NZDF)

If Labour and the Greens were hoping their Budget Responsibility Rules (BRR) agreement would foster an unlikely alliance then hey… mission accomplished! Because it isn’t every day that Sue Bradford, the CTU and Matthew Hooton speak with one voice, as happened yesterday. More>>

ALSO:

Until After The Election: Extension Of Report-Back Date For Havelock North Inquiry

Attorney-General Christopher Finlayson announced today that the report-back date for the independent Inquiry into Havelock North Drinking-Water has been extended at the request of the Inquiry’s Panel. More>>

ALSO:

Little Heading For Court: Apology Over Donation/Hotel Contract Claims Not Accepted

Today I want to publicly apologise unreservedly to Mr Hagaman for any hurt, embarrassment or adverse reflection on his reputation which may have resulted from my various media statements. I have offered that apology to the Hagamans. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news