Economy shows solid growth amid global uncertainty - English
The Finance Minister is confident the economy will show moderate growth over the coming year.
The economy posted solid growth in the September quarter, despite considerable global uncertainty, Finance Minister Bill English says.
He was commenting on data from Statistics New Zealand showing GDP grew 0.8% in the three months to September 30.
"It’s pleasing to see growth picking up again, after a relatively flat second quarter, on the back of an increase in manufacturing and a boost to tourism and spending from the Rugby World Cup," Mr English says.
"This result was achieved against a backdrop of global uncertainty. Since then the global outlook has worsened as Europe seeks solutions to its sovereign debt problems. We face challenges from increasingly volatile global financial markets, reduced demand for our products in some markets and a high Kiwi dollar.”
Mr English says the outlook for New Zealand's exports remains positive and rebuilding in Canterbury will also have a positive impact as it picks up next year.
"The rebuild, along with high export prices and interest rates at 40-year lows, gives us confidence the economy will continue to experience moderate growth next year,” he says.
NBR staff
Thu, 22 Dec 2011
Thu, 22 Dec 2011
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Economy shows solid growth amid global uncertainty - English
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