North­land slips down score­board

The Northland Age - - Local News -

North­land did not en­joy a clas­sic 2018, de­spite mak­ing an ex­tremely strong start, ac­cord­ing to the lat­est ASB Re­gional Eco­nomic Score­board.

In Q1 North­land was top of the score­board, in Q2 it had slipped to eighth, and in Q3 was hov­er­ing near the bot­tom in 13th equal spot with Bay of Plenty, ahead of only Auck­land and Can­ter­bury.

“North­land’s slip down the score­board has been swift,” ASB chief econ­o­mist Nick Tuf­fley said.

“The hous­ing mar­ket has run out of steam in the North, with an­nual growth (or de­cline in North­land’s case) the weak­est in the coun­try. Sim­i­larly, fall­ing build­ing con­sents in­di­cate soft­ness in the con­struc­tion sec­tor ahead.”

There were some bright spots though, with hor­ti­cul­ture, forestry and tourism hold­ing strong and the prospect of a lift in eco­nomic ac­tiv­ity as sum­mer got into full swing.

Em­ploy­ment in the re­gion rose 1 per cent over the pre­vi­ous year (13th, na­tional av­er­age 2.8 per cent), re­tail sales rose 4 per cent (sixth equal, 3.5 per cent), house prices rose 8.3 per cent (fourth, 4.5 per cent), con­struc­tion fell 15 per cent (11th, down 5 per cent), and new car sales fell 6 per cent (11th, down 5 per cent).

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