Provincial New Zealand's confidence surged at the end of 2015

Bay of Plenty remains the most confident region in New Zealand, as confidence returned to the provinces at the end of 2015.
Share on twitter
Share on facebook
Share on linkedin
Share on whatsapp
Share on email

The Westpac McDermott Miller regional economic confidence survey for the December quarter saw every region aside from Northland become more upbeat about the outlook for their area, compared to the September survey.
Several regions, especially the lower half of the South Island, saw a massive improvement in their outlook over three months, with the September quarter coming at a low ebb for the dairy industry.
Southland saw the biggest improvement of any region. In September, a net 36 per cent of those surveyed in Southland expected the economy to deteriorate in the coming year, while in December a net 16 per cent expected the economy to improve, a 52 point swing.
Westpac economist David Norman said that the small sample size in any particular region meant the results could be volatile, but it was clear that an upgraded milk price forecast had boosted confidence in parts of the country dependent on dairy prices.
«[A] 52-point swing in [Southland] cannot be explained just by statistical noise. There is absolutely no doubt that the region is more upbeat as a $3.85 Fonterra payout has been revised to $4.60».
Otago went from a net 4 per cent who were pessimistic to a net 37 per cent confident, making it the most confident part of the country.
The survey, which questioned more than 1500 households, asked respondents whether they expected good, rather than bad, economic times in their region over the coming year.
The net score represents the difference between those who are generally confident and those who are pessimistic.
Bay of Plenty remained the most confident part of the country for the third quarter in a row, with recent surveys by ASB naming the region as the best performing economy in New Zealand.
In December a net 41 per cent of Bay of Plenty residents were upbeat about the economy, compared to a net 25 per cent positive in September.
«A resurgent kiwifruit industry, strong house price growth, and falling unemployment all point to this rise in optimism [in Bay of Plenty],» Norman said.’
Northland was the only region to become more downbeat and the only part of New Zealand where pessimists outnumbered optimists.
In December a net 9 per cent of Northlanders were pessimistic about the outlook for their region, compared to a net 4 per cent pessimistic in September.
Auckland’s confidence climbed 8 points to a net 21 per cent positive, while Wellington improve 12 points to 28 per cent positive.
Canterbury saw a small increase in confidence, up 2 points to a net 25 per cent positive.
 

Source: Stuff

 

Mirá También

Así lo expresó Domingo Possetto, secretario de la seccional Rafaela, quien además, afirmó que a los productores «habitualmente los ignoran los gobiernos». Además, reconoció la labor de los empresarios de las firmas locales y aseguró que están «esperanzados» con la negociación entre SanCor y Adecoagro.

Te puede interesar

Notas
Relacionadas