Mayor credits businesses with North’s economic rise

Northland’s economy continues to grow and outpace other regional economies, with Whangarei Mayor, Sheryl Mai, saying regional businesses deserve the credit.

The latest ANZ Bank survey of regional economies released last Friday (subs: 27 November 2015) points to a rise of 2.5 percent in Northland’s economic activity in the third quarter of 2015, the strongest pace of quarterly activity for any region in the country. Northland’s annual average growth also strengthened to 4.2 percent, the third highest of the regions.

“Northland has been a rising star in these surveys, quietly ascending the charts to make an impressive showing near the top in the first half of this year,” Mayor Mai says.

“The 2015 third quarter survey puts Northland in the healthiest position yet as the strongest performing region in the country, ahead of Otago with a 1.8 percent improvement in economic activity over the quarter.”
Northland’s economic activity outpaced the national average in a number of areas including regional exports, property market buoyancy, a strengthening construction sector and guest night numbers, suggesting the tourism sector is also on the rise.

The future also looks promising, with the ANZ’s Business Outlook composite forecasting this strong growth impetus will continue in the North.

“I credit our businesses and industry for this positive momentum,” Mayor Mai says.

“They have worked hard, kept their faith and focus on Northland’s potential, and taken the opportunities presented to them by the region’s councils and economic development agencies.

“I acknowledge and congratulate them, and encourage them to keep up the good work, and keep leading Northland and our nation toward economic prosperity.”

ENDS

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