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ASB / Main Report Regional Economic Scoreboard
ASB / Main Report Regional Economic
Scoreboard
March 2013 Quarter
Auckland and Canterbury once again dominate the rankings in the latest ASB / Main Report Regional Economic Scoreboard.
Auckland retains the top spot, with economic activity in the region boosted by the roaring housing market and a step-up in construction activity.
In Canterbury, evidence of the increasing rebuilding activity can be seen with a ripple effect out into the wider regional economy as evidenced by the strong growth in retail sales. Canterbury also continues to experience fairly rapid house price increases due to lack of supply. However, this pressure should ease as the rebuild gains even further momentum.
The big economic story of early 2013 was the drought that afflicted most of the country. The drought has clearly had an impact on the latest Scoreboard and is particularly evident in soft consumer confidence in some of the country’s key pastoral regions, particularly Waikato and Northland.
Despite this, most activity indicators have held up fairly well across the regions. The longer summer and early timing of Easter did have a silver lining in the form of a higher than normal rate of tourist activity in March.
The ASB / Main Report Regional Economic Scoreboard takes the latest quarterly regional statistics and ranks the economic performance of New Zealand’s 16 regional economic areas.
ENDS
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