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

 


Manawatū Region Economic Growth Strengthens

Manawatū Region Economic Growth Strengthens

The latest Manawatū Economic Monitor report highlights strengthening economic growth in the Manawatū region.

Infometrics gross domestic product (GDP) estimates suggest economic growth in the region was 1.9% in the year to June 2014, the strongest increase since September 2010.

The high milk pay-out price, improved migration and strong growth in visitor spending were among the factors supporting stronger growth in the region over the last year.

Alan Cockrell, chief executive of Vision Manawatū, welcomed data showing further improvement in annual net migration in the region. This increase reflects a 30% decline in the number of people leaving the region to move overseas during year to June and a 7% increase in the number of people arriving. It is the highest number for net migration since 2004 and is a useful indicator of increasing confidence in the region.

The reduction in the indicative Fonterra milk solids payout price will have an impact on growth levels in 2015. The company is still completing payments for the 2013/14 season so the impact of the reduction will not be fully seen until next year.

However, investment in the new Proliant processing plant in Feilding and a range of logistics projects in Palmerston North are supporting continuing growth in the region. Projects include New Zealand Post consolidation of its mail processing centre in Palmerston North, and the construction of an inland port at Longburn and several new distribution centres in the City.

Chief executive of Destination Manawatū, Lance Bickford said tourism spending data showed the region continues to experience strong growth in domestic and international visitor spending. “We have put a lot of energy into creating programmes around The Country Road experience to encourage domestic and international visitors to divert off State Highway 1 and these results confirm that we are hitting the mark. Our central location means we are also a great base for visitors to New Zealand.”

While there is a divergence between commercial accommodation international guest nights data and international visitor spending, this is largely explained by the high proportion of international visitor nights in non-commercial accommodation (private homes, B&B, homestays, etc.) in the region.

The Manawatū Region Quarterly Economic Monitor is produced by Infometrics for Palmerston North City Council and a copy of the full report can be found at pncc.govt.nz

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

  • Second Readings To Continue
  • House Rises Interrupting RNZ Bill
  • Standards Bill Progresses
  • Controversy Over Non-Controversial Bill
  • Questions and Answers – May 19
  • Parliament Today 19-05-15
  • Environmental Reporting Bill Progresses
  • Access Week in Parliament 19-05-15

  • TPPA: University Of Auckland Warns Of Negative TPP Impact

    The University of Auckland May 20, 2015 University of Auckland Warns of Negative TPP Impact With the Trans Pacific Partnership (TPP) negotiation drawing to a close, the University of Auckland has expressed serious concerns about its potential implications. ... More>>

    NZ Flag: Flag Referendum Gets Hit Hard In New Poll

    The latest Campbell Live text poll confirms it is time for the Prime Minister to listen to the public and shelve his flag referendum, says the New Zealand First Leader Rt Hon Winston Peters. More>>

    Gordon Campbell: The Government’s Belated Moves On Property Speculation

    Is it a property tax on capital gains or a capital gains tax on property? The Jesuitical distinctions in the government’s spin about its latest moves on property speculators are all about whether the government can claim that it jumped, or confess that it ... More>>

    Grant Robertson:
    Key Can’t Just Be Prime Minister For Parnell

    John Key must show New Zealanders in next week’s Budget that he is more than the Prime Minister for Parnell, and is also the Prime Minister for Pine Hill, Putararu and Palmerston North, Labour’s Finance spokesperson Grant Robertson says. In a ... More>>

    Labour Party: More Regional Jobs Go In Corrections Reshape

    News that 194 Corrections staff are to lose their jobs will have ramifications not only for them and their families but for the wider community, Labour’s Corrections spokesperson Kelvin Davis says. Prison units at Waikeria, Tongariro and Rimutaka ... More>>

    ALSO:

  • NZ First - Prison Job Losses to Send Money Offshore
  • TPPA: ‘Team Obama’ Regroups On Fast Track, Still Not Deliverable

    ‘After yesterday’s stinging and unexpected defeat for the Obama administration’s attempt to advance Fast Track legislation in the US Senate, Senate leaders have worked up a compromise they think will get them past this blockage’, according to Auckland ... More>>

    NZ Government: 5,500 More Doctors And Nurses In Our Hospitals

    Health Minister Jonathan Coleman says a record number of doctors and nurses are working in District Health Boards across the country. More>>

    Controller and Auditor General: Katherine Rich Conflict of Interest Decision

    We are writing to you about a matter that has been raised with us by members of the public. More>>

    ALSO:


    Budget 2015: Andrew Little On The 2015 Budget

    Speaking to the Chamber of Commerce, the Labour opposition leader attacked the government’s approach to economic issues facing New Zealand. He said they have been “more than reckless in their complacency” and “the next week’s budget will do nothing ... More>>

    Defence Force: NZDF Building Partner Capacity Mission Personnel In Iraq

    NZDF Building Partner Capacity Mission Personnel in Iraq The New Zealand Defence Force Building Partner Capacity training mission contingent is in place at Taji Military Complex in Iraq. The Chief of Defence Force Lieutenant General Tim Keating says the ... More>>

    PM Press Conference: ACC Levy Cuts Announced

    In a press conference this afternoon in Wellington, ACC Minister Nikki Kaye proposed $500 million worth of ACC levy cuts. More>>

    Quakes: New Process For Red Zone Crown Offers

    Canterbury Earthquake Recovery Minister Gerry Brownlee has announced a process to give everyone a say on the Crown offers to owners of vacant, commercial/industrial and uninsured properties in the Residential Red Zone. More>>

    ALSO:

    Gordon Campbell: On The Battle Obama Is Waging Over The TPP

    For the past two and a half years, this column has been arguing that the fate of the Trans Pacific Partnership (TPP) deal will hinge on whether US President Barack Obama can win Trade Promotion Authority (TPA) from Congress... Last week, the White House finally, finally unveiled a draft TPA Bill. More>>

    ALSO:


    Gordon Campbell: On lessons for Labour from the UK election
    If the polls were right – and the pollsters kept telling us how accurate they’d been in 2010, and even Nate Silver was getting the same results – there seemed no way that the British Labour Party could lose last Thursday’s British election. With Labour predicted to win around 270 seats and the Scottish National Party batting around 55-60 seats, Labour seemed to be home free. But…as we now know, things didn’t turn out that way. Labour ended up with 232 seats and the Conservatives swept back to power with an outright majority, after winning only a little more than a third ( 36.9%) of the votes cast.MORE >>
    Also.

  • NZ PM John Key - PM congratulates David Cameron after UK election
  • The Nation IV Transcript - Hack Attack author Nick Davies
  • Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
     
    Regional
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news