Retail Data Points to a Robust Wellington Economy
Retail Sales and Guest Accommodation Data Point to a Robust Wellington Economy
Recent data from Statistics New Zealand shows economic activity in the Wellington region remains robust according to the Wellington Regional Chamber of Commerce.
“Retail sales figures released today by Statistics New Zealand show growth in the Wellington region was above the New Zealand average but the trend is slowing from recent highs”, said Chamber Chief Executive, Charles Finny.
“Retail sales in the Wellington Region grew 1.1% in the September 2006 quarter, compared with the New Zealand total of 1.0%. They were 6.3% higher than the same quarter last year compared with the New Zealand total of 3.2%.
These figures follow the release of strong guest accommodation and employment data last week.
“Accommodation data for September 2006 showed the Wellington region topped the country in terms of occupancy rates (56%) and growth in number of guest nights (up 18,000 on September 2005).
“The above average retail sales and strong accommodation data is consistent with the strong employment growth for Wellington recorded in the September quarter.
“As a whole, these figures show that the Wellington region is presently outperforming many areas of the country.
“However, while we are doing relatively well at present, over the past six years we have been underperforming compared to the national average.
“This suggests more needs to be done to sustain the growth in the Wellington economy which is why the Wellington Regional Strategy, currently being put together by the region, is so important”, Mr Finny concluded.