Cullen on GDP result
Thursday, 22 December 2005, 12:56 am
Press Release: New Zealand Government
22 December 2005
Media Statement
Cullen on GDP
result
“The weak growth figures for September indicate
that the long anticipated slowdown might come a little
sooner than envisaged in the Treasury December forecasts,”
Finance Minister Michael Cullen said today.
Dr Cullen was
commenting on the latest GDP data showing growth over the
September quarter of 0.2 per cent. This was at the bottom
end of market expectations and below the Treasury’s
estimate.
“The continued evidence of a two speed economy
with strong domestic demand and a struggling export sector
is obviously cause for concern.
“But the outlook is
still for a fairly soft landing, supported by continuing
strength in both business investment and the labour
market.
“The results show business investment grew 6.9 per
cent over the September year and 2.2 per cent over the
quarter, “ Dr Cullen said.
ENDS
© Scoop Media
Support the news you love
Scoop has been a champion of independent journalism and open publishing for over 20 years. It stands for informing New Zealanders through straight-talking independent journalism, and publishing news from politics and a huge range of sectors. Now, more than ever, sustainable financial support will help to keep these vital and participatory media services running.
Find out more and join us:
Become a member
Get our free pānui
The foibles of the Aussie electoral system are pretty well-known. The Lucky Country doesn’t have proportional representation. Voting for everyone over 18 is compulsory, but within a preferential system. This means that in the relatively few key seats that decide the final result, it can be the voters’ second, third or fourth ranking preferences that finally get the winner over the 50% line...
More>>