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Positive Outlook For Regional Economy

Auckland Regional Council Release

6 March, 2000

At the launch of the document Auckland Region: Business and Economy 2000, Philip Warren, Chairman of the Auckland Regional Council, said that the future of business in Auckland looks very encouraging.
"For example", said Mr Warren, "growth in the Auckland manufacturing sector is expected to average 4.5% over the next two years and the prospects for the business and financial services sector also look promising. In fact we are seeing encouraging futures in all of the region’s industries."
Telecommunications employment in the Auckland region grew by 13% in the year to February 1999. This can largely be attributed to increased cell phone use. With the intense competition between the two main providers of this service it is expected that the growth will continue.
Mr Warren also points to the Ports of Auckland, which has had an increase in container volumes of 5.4% in 1999.
"However it must be realised that while growth will be sustained, it will be steady rather than spectacular."
Mr Warren was quoting Auckland Region: Business and Economy 2000; a report that examines the current state of the Auckland Region’s economy and its future prospects.
The Auckland region is of particular importance to the New Zealand economy as a whole. For the year to March 1999 the Auckland region accounted for 33.8% of New Zealand’s total value-added. Or in dollars, this equates to $33.4 billion.
Also presenting at the launch were Rod Oram, of the Business Herald, and Jim Watson, CEO of Genesis Research & Development Corporation.

For further information please call:
Philip Warren, Chairman Auckland Regional Council,
Tel. (09) 366 2000 extn 7111



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