Growth Figures Good But No Room For Complacency

MEDIA RELEASE

27 September 2002

Growth Figures Good But No Room For Complacency - CTU

“The figure of 1.7% for the quarter for production GDP was higher than market predictions and is a welcome sign that the economy is in reasonably good shape,” said Council of Trade Unions secretary Paul Goulter today.

“However, there is no room for complacency,” he said.

“The trade figures in terms of rising imports and falling exports alongside a rising investment income deficit are a reminder that the economy could weaken in the next year or so.”

Paul Goulter said the GDP figures for the June quarter confirm the strong performance of agricultural and manufacturing exports over the recent past.

“For the CTU, the key factors to foster long-term economic growth are investment in education including vocational skills, investment in quality infrastructure, creating a workplace environment that values the role of workers, an expansion of industry economic development processes, and greater dialogue between government, business and unions on productivity issues,” said Paul Goulter.

“What is clear is that the labour market is now a crucial factor in economic growth”, he said.

“That means we need to focus on not only maintaining the momentum in increasing employment, but also address the skills and innovative potential of workers in the labour market”.

ENDS

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