Economic Report Benchmarks New Zealand's Growth - Ministry Media Release

A new report released today by the Ministry of Economic Development benchmarks New Zealand's economic performance and, coupled with two previous reports, provides a long-term picture of economic trends.

"The report updates and expands the two previous reports published in 2003 and 2005," Ministry Chief Executive Geoff Dangerfield said.

Economic Development Indicators 2007 has been produced by the Ministry in conjunction with the Treasury and Statistics New Zealand.

"It collates a large amount of valuable information on New Zealand's economic performance – both high level outcomes like economic growth and also the underlying factors like innovation and investment that drive growth," Mr Dangerfield said.

The main purpose of the report is to inform future economic policy, promote informed debate and provide a basis to engage with people over the direction of the New Zealand economy. The indicators also provide a basis to measure New Zealand's performance over time and against other countries, highlight our strengths and weaknesses and over time provide information about the effectiveness of economic policy.

The report compares New Zealand's performance to the rest of the OECD, and with Australia, Denmark, the UK and the US.

"We've also added a couple of chapters – one comparing us to the Australian states and the other looking at Auckland’s performance as a world class city. They were added to provide a richer picture of our economic performance," Mr Dangerfield said.

Another collated set of the indicators is likely in two or three years. After 12.15 pm on Wednesday December 12 the full report, and a summary report, can be found at the MED website.

Hard copies can be ordered by emailing economicindicators_orders@med.govt.nz.

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