Hamilton City Quarterly economic monitor - June 2019

Gross domestic product (provisional)

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Highlights for Hamilton City

  • GDP (provisional) in Hamilton City was up 2.6% for the year to June 2019 compared to a year earlier. Growth was higher than in New Zealand (2.5%).
  • GDP (provisional) was $8,210 million in Hamilton City for the year to June 2019 (2010 prices).
  • Annual GDP growth in Hamilton City peaked at 4.2% in the year to March 2012.

National overview

Provisional estimates from Infometrics show economic growth was steady in June, with the economy expanding by 2.5%pa over the 12 months to June 2019, although the future looks less positive. Growth expectations continue to soften as businesses and consumers show signs of lower spending and investment as global and domestic concerns increase. Increasingly sour global headlines highlight trade tensions in North America, Asia, and Europe, with global demand expected to soften, hitting New Zealand exports. Domestically, weak business investment remains of concern for future growth prospects, and government spending and investment remains slow to progress, with capital investment $0.9b below forecast for the 11 months to May 2019.