“Strong growth of 0.6 per
cent in the September GDP data means that the economy has
grown almost 20 per cent in the last five years,” Finance
Minister Michael Cullen said today.
“This translates in
real income per person to an increase of 15 per cent. That
is a good result for New Zealanders and is reflected in high
household consumption, up 6.1 per cent over the September
year.
“Although the figures show the high dollar is
beginning to affect export performance, it should be
remembered that a large part of the 5.7 per cent drop was
due to dairy exports which were down 24 per cent over the
quarter. But much of this drop was due to the late start to
the season,” Dr Cullen
said.
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