Queenstown-Lakes District Quarterly economic monitor - December 2019

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Gross domestic product (provisional)

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Highlights for Queenstown-Lakes District

  • GDP (provisional) in Queenstown-Lakes District was up 3.0% for the year to December 2019 compared to a year earlier. Growth was higher than in New Zealand (2.3%).
  • GDP (provisional) was $3,121 million in Queenstown-Lakes District for the year to December 2019 (2010 prices).
  • Annual GDP growth in Queenstown-Lakes District peaked at 11.1% in the year to December 2015.

National overview

Economic growth continues to soften, with the latest provisional estimates from Infometrics showing an expansion of 2.3%pa over the 12 months to December 2019. Global trade conditions remain uncertain, and domestic investment continues to disappoint. However, improved business and consumer sentiment shows a more upbeat view of the economy, and sets the foundation for sustained growth, albeit at a slower pace, in 2020. Government spending remains slow to roll out, but recent infrastructure announcements should support further regional growth over the next few years.