Waimakariri District Quarterly economic monitor - June 2018

Gross domestic product

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Highlights for Waimakariri District

  • GDP in Waimakariri District was up 2.5% for the year to June 2018 compared to a year earlier. Growth was lower than in New Zealand (2.7%).
  • GDP was $1,846 million in Waimakariri District for the year to June 2018 (2010 prices).
  • Annual GDP growth in Waimakariri District peaked at 11% in the year to March 2011.

National overview

For the first time since our regional GDP data series began in 2001, the largest urban areas are growing more slowly than the nationwide average. The Wellington, Auckland, and Canterbury regions are now among the slowest-growing areas in the country. We are now seeing the pay-offs from the recovery in dairy prices since the second half of 2016 and the strength in most other export commodity prices coming through in the performance of provincial economies. Buoyant export incomes are boosting spending activity in the provinces, backed up by population growth that has been well above average. The reasons for the slowdown in the urban areas is a little hard to pin down. Aside from labour resourcing issues, both business and consumer confidence have deteriorated, which has held back investment and spending decisions in urban areas.