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:

Flyover Over: NZTA Not Appealing Flyover Decision

The NZ Transport Agency has decided not to appeal the High Court’s Basin Bridge decision, and says the High Court’s findings provide valuable clarity to help guide the development of future infrastructure projects throughout the country. More>>

ALSO:

Developing Crown Land: Government, Auckland Iwi Reach Agreement

The government has reached agreement with Ngati Whatua and other Auckland iwi over developing 500 hectares of excess land in Auckland for private housing which had been under High Court challenge. More>>

ALSO:

Gordon Campbell: On Maurice Williamson

Maurice Williamson seems to have been granted an annual licence to embarrass the National Party, and its that time of year again. Also as per usual, Williamson’s recent exercise in sexism and homophobia has passed by with barely a murmur from his leader. More>>

ALSO:

Green Climate Plan: Shaw Launches 40% Emission Cut Target

Green Party co-leader James Shaw has announced an emissions target initiative for 40% reduction by 2030. He said agriculture has to long been used as a reason for inaction, a roadblock to action... He proposed a tax of 8 cents per kilo of milk. More>>

ALSO:


Images & Video: Four Alternative Flags For Referendum

Flag Consideration Panel chair, Professor John Burrows, said the Panel’s decision had been guided first and foremost by the results of its engagement programme across a range of communities where thousands of Kiwis shared what was special about New Zealand, as well as the Panel’s own selection criteria. More>>

ALSO:

Transport Report: LGNZ Calls For Proactive Approach To Mobilise Regions

LGNZ has today released Mobilising the Regions, its major transport study, which highlights the economic and social impact of strategic transport decisions nationally and in the regions, and the direct link between regional development, national prosperity, social well-being and cohesiveness. More>>

ALSO:

Transport: New Rules Bring Double-Deckers To Our Cities

New rules that allow buses, including double-deckers, to carry more people will ramp up the public transport offering in our cities, Transport Minister Simon Bridges and Associate Transport Minister Craig Foss say. More>>

ALSO:

Cycling:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news