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Economic Indicators Strong For Upper Hutt

26 February 2006

Economic Indicators Strong For Upper
Hutt

“We’re glad to be able to clarify the data given in our six-monthly “Regional Outlook” publication, says Positively Wellington Business CEO Philip Lewin.

New advice received from economic consultants Infometrics, who have for some years prepared the “Regional Outlook” on behalf of first the Regional Council and now PWB, confirms that there is a serious anomaly in the 2005 employment data for Upper Hutt. Defence employment had been wrongly recorded as zero, instead of remaining stable at around 800 jobs.

According to Infometrics, “on that basis employment would have grown in Upper Hutt by 7% over 2004/5, and our estimate for GDP would also have shown a rise of 7%”.

This figure is keeping with the strong economic growth rates reported for other parts of the Wellington Region for the year ending March 2005.

“As the sponsor of “Regional Outlook”, PWB regrets this error. We need to ensure there is no repetition in future” says Mr Lewin.

“The good news is that in reality, Upper Hutt has played a full part in the region’s excellent growth performance. PWB will continue to work closely with Upper Hutt businesses, the Upper Hutt City Council as one of our core stakeholders, and wider regional interests to help sustain the momentum going forward”.

Positively Wellington Business is committed to building business in the Wellington region. Working on behalf of Hutt City, Porirua City, Kapiti Coast District, Upper Hutt and Wellington City councils, Positively Wellington Business offers a broad range of services to help businesses compete in the local economy and succeed in the global marketplace.

ENDS


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