3. Economy—Growth Confidence GDP per Capita Services Sector and CommentarySCOTT SIMPSON (National—Coromandel) to the Minister of FinanceEconomy—Growth Confidence GDP per Capita Services Sector and Commentary3. SCOTT SIMPSON (National—Coromandel) to the Minister of Finance: What recent reports has he received on growth and confidence in the New Zealand economy?Hon STEVEN JOYCE (Minister of Finance): A number of recent economic indicators show that New Zealand's 6 years of almost continuous economic growth is likely to continue. Last Friday the BNZ-Business New Zealand Performance of Manufacturing Index was released. The Performance of Manufacturing Index (PMI) reached 55.2 in February which is three points higher than in January and the highest level of expansion since September last year. In fact New Zealand's manufacturing sector has been in expansion almost constantly since October 2012 demonstrating the increasing diversification of our economy and the Government's balanced approach to ensuring New Zealand's future prosperity.Scott Simpson: What do current levels of confidence in our economy indicate to the Government about the economy's likely growth prospects?Hon STEVEN JOYCE: Also last Friday we saw the latest ANZ-Roy Morgan Consumer Confidence data for February. This result was another strong 125.2—well above the long-term average of 118. The ANZ noted that its model combining business and consumer confidence indicators pointed to GDP growth of higher than 4 percent. Now I think that is too optimistic but it does reinforce the view that the New Zealand economy continues to perform well relative to other countries and is delivering security and confidence to hard-working Kiwis.Grant Robertson: In light of that answer is ANZ senior economist Philip Bawkin correct that year on year GDP per capita growth of 0.6 percent is less than half the annual average for per capita growth since 1993?Hon STEVEN JOYCE: I stand corrected but my understanding is that Statistics New Zealand posted a figure of 0.9 percent for the year which is not stellar but also significant and it continues to grow.Grant Robertson: Less than half the average.Hon STEVEN JOYCE: Well the member is well known for his trainspotting of picking a particular statistic but if he actually looks across the GDP growth he will see that New Zealand is one of the strongest performers in the developed world.Scott Simpson: How is growth in the services sector continuing to support New Zealand's economy?Hon STEVEN JOYCE: The index of services confidence released yesterday showed a slight dip for the month of February but it was still the second-highest level of expansion since November 2015. In particular employment rose by 0.9 to a measure of 54.6 which means it has now entered its fifth-year straight of expansion. The data released in the last few days across manufacturing services and consumer confidence—and also GDP growth last week—indicate the ongoing success of the Government's long-term programme for economic growth.Scott Simpson: What reaction has the Minister received from commentators looking ahead at New Zealand's economy through 2017?Hon STEVEN JOYCE: The consensus amongst economic commentators is for continued economic growth through this year and also into 2018. The ANZ observed that consumer confidence is solid across all regions—Auckland being the most optimistic followed by the South Island outside of Canterbury. Westpac noted in its consumer confidence commentary that confidence in the household sector remains at healthy levels. The Government remains on track to deliver a Budget in May that will balance economic growth over the medium to longer term while also addressing the longer-term environmental and social challenges.