25 Mar 2013

Industries pessimistic despite GDP increase

9:30 am on 25 March 2013

Many industries are pessimistic about their future, despite figures showing strong economic growth.

Figures released on Thursday by Statistics New Zealand show gross domestic product grew 1.5% in the last three months of 2012.

Federated Farmers says primary industries grew 11.7% in total last year, but that success is now being undermined by the drought.

The Retailers' Association says while conditions are better than they have been for several years, its members are feeling the pinch due to high retail rental prices and competition from online sales.

The Manufacturers and Exporters Association says things are even worse for its sector and it wants the Government to take action on the high dollar.