Economic recovery spreading from the south, Kiwibank says
Kiwibank's latest regional report indicates that New Zealand's economic recovery is uneven, with South Island regions significantly outperforming the North. Factors such as tourism and agriculture are driving growth in the South, while the North faces higher unemployment and economic uncertainty.
Why it matters
The report highlights regional economic disparities that influence national policy and investment decisions in New Zealand.
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South Island economies are continuing to outperform the north, as a patchy economic recovery starts to take hold, say Kiwibank economists.
In Kiwibank’s latest Regional Score report, Queenstown has topped the rankings with a score of 9 out of 10, followed by Southland and Otago (7) – while Taranaki (3) and Wellington (3.4) sat near the bottom of the table.
The report shows a persistent divide between the two islands, with the South Island recording an average regional score of 5.1 compared with 4.0 in the North Island.
Kiwibank chief economist Jarrod Kerr said the figures highlight a recovery that is gaining traction in some regions but remains frustratingly slow for many New Zealanders.
“The economy is improving, but it’s doing so at different speeds across the country.”
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