Rise in inflation appals group
The June quarter’s 3.3 per cent rise in inflation has appalled the Canterbury Manufacturers’ Association which blames the Government for a “disastrous” economic strategy. The president of the association, Mr Alan Shadwell, said Canterbury manufacturers were calling on the Government for performance. “Promises, incorrect predictions and empty words are simply not enough. The effect of its economic strategy can only be described as a
disaster,” Mr Shadwell said. The inflation increase — with the New Zealand dollar’s exchange rate at a high level — could only reduce manufacturing confidence, investment, output and employment, he said. Recent employment figures showed that employment in manufacturing in Canterbury had dropped 7.5 per cent during the year to February. “It is a serious situation when in New Zealand we have 120,000 people out of work,” Mr Shadwell said.
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Press, 16 July 1987, Page 8
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137Rise in inflation appals group Press, 16 July 1987, Page 8
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