Figures late last week confirm New Zealand is well placed economically, despite uncertainty in other parts of the world.  In the three months to June, our economy grew by 0.6%.  This takes annual growth to 2.6% – the highest since 2007, which is great news.

In the first half of 2012, New Zealand has grown faster than the United States, Japan, Canada, the UK, and the Euro area.

New Zealand’s rate of GDP growth, which is the highest we’ve seen since before the domestic recession and the Global Financial Crisis, confirms our economic plans are having a positive effect on New Zealand businesses and households. We expect solid growth to continue.

We are making good progress towards building a more productive and competitive economy – one of our four priorities for this term in office.