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Robust economic statistics

Jim Anderton
Minister for Economic Development
Minister for Industry and Regional Development


Robust economic statistics

The Labour Progressive Government is providing $1.5 million across three years to fund the development of regional GDP statistics.

Funding from Vote Economic, Industry and Regional Development will be used by Statistics New Zealand to develop the series that will include listings of GDP by industry and the components of GDP, both as measures of production by region, rather than from purchase or income levels.

“Good information is one if the building blocks of good policy. Regions know this and have identified a need for more data about their own economic performance," Jim Anderton, Minister for Economic Development said.

"I’ve asked Statistics NZ and MED to see whether it’s possible to produce reliable, quality, regional GDP figures in response to the need to improve economic planning in the regions.

“Regional GDP statistics will give us a greater understanding of the factors influencing growth, provide a sound basis for monitoring and evaluating regional economic development and provide a more robust basis on which to make economic decisions. With more in depth and robust statistics we will be able to better target regional development programmes and funding.

“By the end of this project we will know the feasibility and costs involved in producing an ongoing regional GDP series. We will also have a good idea of what other regional economic data could be developed," Jim Anderton said.

ENDS

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