Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 

Region performing well according to updates

25 November 2004

Auckland Regional Council

Region performing well according to economic update

Solid overall growth, low regional unemployment and key industries are performing well according to the Auckland Regional Council's Business and Economy Update released this week.

This Update builds on a more extensive report released in April, and provides a snapshot of the Auckland region's economic performance over the past six months.

According to the Update, the region is set to record solid growth for 2004. Predictions of 4% growth are well above the 2.8% recorded for 2003, and ahead of the 3.3% forecast six months ago.

Construction and housing sectors have been the stand-out performers over recent months, but a lack of skilled labour remains an ongoing constraint on growth overall.

With virtually full employment across the region (the region's unemployment rate is currently 3.7%), labour is scarce and the competition for skilled staff continues to put pressure on employers to offer more attractive conditions and wages, and to improve productivity.

Overall the past six months have seen solid economic performance for the region, but there are still numerous challenges to be addressed: skill shortages, rising interest rates and a constant push to achieve 'smart' growth rather than the current reliance on labour.

Apart from skill shortages, transport and roading continue to be cited as major factors hindering growth in the region. However, the formation of two new entities under the ARC earlier this year will go a long way to address some of the governance arrangements that have been an issue in the past.

"The ARC has been reorganised to face these challenges with the Auckland Regional Transport Authority responsible for the planning, funding and implementation of land transport across the region," says ARC Chairman Michael Lee.

"We also have an additional source of funding through Auckland Regional Holdings, which owns an 80% shareholding in Ports of Auckland as well as other assets and investments which will be sustainably managed for the long-term benefit of the people of the region."

Mr Lee says that the Update shows that while the region faces many challenges, good economic performance can only benefit those who live and work in the region.

The Update is produced by the National Bank of New Zealand on behalf of the ARC. The more in-depth report, Business & Economy, is produced annually in April and provides a summary of current economic trends, prospects and challenges in the Auckland region.

A copy of the Update is attached. The yearly report is available online at www.arc.govt.nz.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods (is the dollar up or down?) the outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country... More>>

ALSO:

.

 
 

Submissions Summary: The People's Commission On Public Media

This Summary is a preliminary report from the People’s Commission. It brings together views and aspirations of the hundreds of people who made submissions, attended public meetings, filled out the online survey and made speeches to our Panel. More>>

Housing Plans: Protest Over Ihumatao Development

Ihumatao in Mangere, next to the airport in Auckland, holds the archaeological remains of 1000 years of food production; from when Maori first landed in the area, through to early European settler agriculture and right up until today. More>>

ALSO:

Negotiations: What Does Winston Peters Want His Legacy To Be?

A lot of people in New Zealand seem to resent Winston Peters and the power that he appears to have. “Appears” being the operative word.. More>>

ALSO:

Contains Highly Colloquial Language: Your F**king Guide To Government Formation

The following message is in no way endorsed by the Electoral Commission. They are f**king done with this election. More>>

NZ Emissions Up 50% 1990-2013: Report Confirms CLimate Change Impacting NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate. More>>

ALSO:

Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: Inland Revenue Steps Back From Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election