Economic conditions in Southland improved slightly in the December quarter, with Infometrics’ provisional estimate of GDP showing growth of 1.4% over the December 2016 year. Improvements were seen across a range of indicators, including retail spending, vehicle sales, guest nights and migration. Traffic flows rose 3.3% over the year.
Auckland is New Zealand’s engine and is expected to outperform the national economy over the next four years, according to Infometrics Regional Perspectives report released today. The Infometrics Regional Perspectives report provides an outlook for economic conditions in New Zealand’s regions and industries over the next four years.
The New Zealand economy has entered 2017 in good spirits, with Infometrics’ latest forecast predicting GDP growth over the three years to June 2019 will average more than 3.0%pa. However, Infometrics Chief Forecaster Gareth Kiernan believes the solid outlook for growth masks several risks that hang over the economy.
With its population forecast to increase by 254% within the next decade, Hobsonville is the fastest-growing area in Infometrics’ Regional Hotspots report released 24 November 2016.
Nelson-Tasman’s economy grew quickly over the first half of 2016, with Infometrics’ provisional estimate of GDP showing growth in Nelson-Tasman of 4.4% over the June year, compared with estimated growth of 2.7% nationally. Infometrics Senior Economist Benje Patterson says “Several factors have contributed to this growth, including increasing levels of building activity, a growing population, better conditions for primary sector exporters, and soaring visitor numbers into the broader region.”
New analysis by economic consultants Infometrics shows the supply response to the housing crisis is on its way, with homebuilding consents forecast to hit record levels by 2018. Infometrics Chief Forecaster Gareth Kiernan has predicted a 39% increase in the number of new dwelling consents over the two years to June 2018, taking consents to an all-time record high of 40,044pa.
Infometrics has established a strong working relationship with organisations working across the tertiary education sector. Infometrics was therefore proud to sponsor the New Zealand Vocational Education and Training (NZVET) Research Forum held in Wellington last week.
Stay up-to-date with developments in the New Zealand economy – and how they affect your industry or region. In November, Gareth Kiernan (Chief Forecaster) will be visiting a number of centres across New Zealand, presenting insights from our latest Economic, Building, and Transport Forecasts.
Joseph Parker’s 63 second demolition of Australian Bowie Topou a couple of weeks ago provided a significant boost to the Invercargill City economy according to estimates generated using Infometrics event impact calculator.
Excellence in local government was celebrated in an awards ceremony at the recent LGNZ annual conference. We take a moment to acknowledge some of Infometrics’ clients who have been recognised for their work in the fields of community and economic development, as well as highlight some of the economic and demographic monitoring services that are freely available to stakeholders in these communities.