Timaru District Quarterly economic monitor - September 2018

Gross domestic product

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Highlights for Timaru District

  • GDP in Timaru District was up 2.1% for the year to September 2018 compared to a year earlier. Growth was lower than in Waimakariri District (3.0%).
  • GDP was $2,376 million in Timaru District for the year to September 2018 (2010 prices).
  • Annual GDP growth in Timaru District peaked at 4.0% in the year to December 2012.

National overview

Infometrics provisionally estimates that GDP grew by 2.9% over the September 2018 year, the same as the rate of growth recorded the previous year. Although weak business confidence has grabbed the headlines, businesses have been surprisingly bullish in their hiring and investment behaviour against a backdrop of strong production across most industries. Businesses have been wary to raise prices over recent years, but with cost pressures beginning to squeeze profitability, pricing intentions have begun to push up.