Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


First Week Of Level 1 And Manawatū Shrugs Off The Economic Blues

Manawatū has surged to New Zealand’s number two region for consumer total spend growth, in Paymark data covering the first week of Level 1. Electronic card spending in the region for the week ending 14 June being up 7.4 percent on the same week in 2019.

“This confirms what we’ve seen and heard. The Manawatū consumer has confidence to spend because they have confidence in our resilient regional economy,” says Linda Stewart, CEO of the Central Economic Development Agency (CEDA).

“Paymark data tells us that non-supermarket, pharmacy and liquor spending in Manawatū, was up 6 percent week-on-week. This is a strong indicator of general retail spending growth yet in Auckland it was down -7.0 percent.

“The real story of consumer spending confidence isn’t in the big cities, it’s in the regions.

“This can be explained in Manawatū’s economic fundamentals. The primary industries are our economic backbone and related exports remain solid. Manawatū is the second home of government underpinned by research, education, health and of course, the Defence Force.

“Manawatū also has billions of dollars of planned infrastructure that’s either underway, due to start, or likely to be accelerated. Simply put, our diversified economy positions us well for recovery and we are an attractive investment destination.

“The average Manawatū consumer has also spent more over each of the past four weeks, than they did in 2019. In the first week of Level 1 it was $44.80, up 9.9 percent on 2019.

“Paymark data puts into context CEDA’s third business survey on the impact of COVID-19. Conducted just after the move into Level 2, a bearish business sentiment has softened from 70 percent concern at the peak to 56 percent in our most recent survey.

“This survey conducted ahead of Level 1 showed that the top three concerns were a reduction in customers; short-term cash flow; and ongoing financial viability.

“Paymark data shows that the Manawatū consumer is shrugging off the COVID-19 economic blues to get on board and back ‘team Manawatū’,“ Ms Stewart finished by saying.

For Paymark’s consumer spend trends, please click here.

  • For the third CEDA Business Survey on the Impact of COVID-19, please click here.
  • For the CEDA Manawatu COVID-19 Impact Dashboard, please click here.
  • Please note Paymark data is drawn from 150,000 terminals around New Zealand; approximately 70 percent of the market. While not a direct fit for the economy, it provides a good proxy. This data does not capture online spending because that is done mostly by credit card.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Energy Sector: Meridian Spilled Water To Hike Electricity Prices - Authority Ruling

The Electricity Authority has found that generator Meridian Energy manipulated the power market, costing consumers about $80 million. More>>


XE Data Update: RBNZ Official Cash Rate Decision

The RBNZ will keep the Official Cash Rate (OCR) at 0.25%. T he key points in the RBNZ statement are: RBNZ keeps the OCR unchanged at 0.25% Maintain the LSAP (large scale asset purchase) at NZD$60 billion. Committee prepared to use additional monetary ... More>>


Electricity: Kiwis Ignore Promise Of Cheaper Power

Electric Kiwi and Flick Electric Co are joint winners of Canstar Blue’s award for Most Satisfied Customers | Electricity Providers From putting on an extra layer – rather than turning on a heater – to turning off lights and choosing the energy-saving ... More>>


Economy: COVID-19 Contributes To 1.6 Percent Fall In March Quarter GDP

Gross domestic product (GDP) fell 1.6 percent in the March 2020 quarter, the largest drop in 29 years, as the initial effects of COVID-19 restrictions impacted on economic activity, Stats NZ said today. This quarter’s GDP results showed a widespread drop ... More>>


Electricity: Transmission Pricing For A Low Carbon Future

The Electricity Authority has decided on new guidelines for transmission pricing. James Stevenson-Wallace, Chief Executive of the Electricity Authority says the new guidelines will deliver significant benefits to consumers, through lower electricity ... More>>


ASB: Investor Confidence Falls To Four-Year Low

As the world grapples with the fallout from the most significant pandemic the world has seen in a century, economic concerns are weighing on investors, dragging investor confidence down to a four-year low in the first quarter of the year. For the three ... More>>


Science Media Centre: Funding For R&D In New Zealand – Expert Reaction

Research, Science and Innovation Minister Dr Megan Woods has today announced $401.3 million funding for research and development through Budget 2020 and the COVID Response and Recovery Fund. The fund includes $150 million for an R&D loan scheme, ... More>>


Science: 2019 Prime Minister’s Science Prizes Announced

The 2019 Prime Minister’s Science Prizes have been announced in a digital livestream event today. The Prizes recognise the impact of science on New Zealanders’ lives, celebrate the achievements of current scientists and encourage scientists of the ... More>>


RNZ: Fuel, Alcohol Costs To Go Up From Today

The increase today in the taxes on fuel, road user charges and alcohol is being called a tone-deaf move. More>>


Stardome Observatory: Young Kiwi Astro-Photographer Shoots For The Stars

Matariki by Josh Kirkley. The stars are aligning for up-and-coming Auckland-based astro-photographer Josh Kirkley (Kāi Tahu). During lockdown, one of his images was picked up by NASA and shared on the space agency’s Instagram to its 59.2 million ... More>>

DCANZ: Time For EU To Commit To A Level Playing Field For Trade

The Dairy Companies Association of New Zealand (DCANZ) has welcomed New Zealand Trade Minister David Parker’s statement that it is unacceptable for New Zealand exporters to continue facing an ‘unlevel playing field’ in the EU. Details leaked ... More>>


Potatoes New Zealand: Protecting NZ Fries As Part Of PNZ Pandemic Recovery & Transformation Plan

Potatoes New Zealand has met with Minister Faafoi this week to discuss investigating the potential importation of heavily discounted frozen potato chips into New Zealand. With MBIE’s support we are undertaking an investigation to gather evidence of the ... More>>


New Zealand Government: Supporting Kiwi Businesses To Resolve Rent Disputes

The Government will legislate to ensure businesses that suffered as a result of the COVID-19 response will get help to resolve disputes over commercial rent issues, Justice Minister Andrew Little announced today. More>>


Science Media Centre: Understanding 5G Concerns – Expert Q&A

Recent attacks on cell phone towers have brought concerns over the rollout of 5G technology into sharp relief.
While scientific research has consistently shown that the technology does not adversely affect human health, public concerns about its impact have spread around the world, fueled in part by growing misinformation online. The SMC asked experts to comment... More>>


Trade: Record Monthly Surplus As Imports Dive

Imports in April 2020 had their biggest fall since October 2009, resulting in a monthly trade surplus of $1.3 billion, Stats NZ said today. “This is the largest monthly trade surplus on record and the annual goods trade deficit is the lowest ... More>>