Graph 16 Graph 17 Looking forward, there are some signs that, after a soft patch, the economy has reached a gentle turning point. This is evident in the fact that GDP growth over the first half of this year was stronger than it was over the second half of last year (Graph 8). We are expecting a further modest pick-up in the quarters ahead.
Introduction It’s a great pleasure to be here today to share some thoughts with you on the global financial marketplace, and its implications for New Zealand. We have recently had a dramatic example of how events in one country can spread rapidly.