Hamilton City Quarterly economic monitor - March 2019

Gross domestic product (provisional)

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Highlights for Hamilton City

  • GDP (provisional) in Hamilton City was up 3.1% for the year to March 2019 compared to a year earlier. Growth was higher than in New Zealand (2.5%).
  • GDP (provisional) was $8,167 million in Hamilton City for the year to March 2019 (2010 prices).
  • Annual GDP growth in Hamilton City peaked at 4.2% in the year to March 2012.

National overview

The economy grew 2.5%pa over the 12 months to March 2019, according to provisional estimates from Infometrics. Growth has slowed in line with expectations, with low business investment, lower population growth, and a slower build-up of government spending all contributing to the slower outlook. We expect growth to hold up for the rest of 2019, before slowing further in 2020/21 as economic momentum slows further. Government spending growth remains slower than expected as the reorientation under the current government requires more preparatory work to establish and test business cases and secure authority to go ahead with new plans.