Westpac finds signs of life in economy
By
OLIVER RIDDELL
in Wellington
The economy is starting to show signs of life, according to the economics department of the Westpac Banking Corporation. Westpac said that if the economy were a patient it would probably be in intensive care, with the life support monitor starting to bleep a little. The good news was that retail sales were looking up. The rapid growth in retail sales for the three months to last December was reflected in the significant contribution made to the 0.2 per cent rise in
gross domestic product for the period. Westpac said the departure from the Labour Party of Mr Jim Anderton, Mr Neville Taylor and Ms Liz Gordon did not seem to have caused the Prime Minister too much concern as he claimed none were his allies. It seemed that as both the Right, led by Mr Roger Douglas and the Left, led by Mr Anderton, moved away, the Prime Minister was left with a nucleus of his loyal followers who should not provide much opposition to his policies.
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Press, 26 April 1989, Page 5
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180Westpac finds signs of life in economy Press, 26 April 1989, Page 5
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