According to the latest ASB Main Report, Otago has a two speed economy, with Queenstown racing along while Dunedin struggles to keep up.
The claim held some validity with the Otago Chamber of Commerce and the Otago Southland Employers' Association, but Mr Woodhouse disagreed.
''I don't think it's very helpful to compare Dunedin with Queenstown.
''They are two very different types of economies _ they go through different fluctuations, different cycles.''
Dunedin had positioned itself in a very different place, he said.
''It's in education and IT and research and a little bit of high tech manufacturing, gaming and software development. Those are the things it's good at and it should be doing more of them.
''And Queenstown is very much adventure tourism.
''Both are going in a positive direction and that's a good place to start from.''
Mr Woodhouse said nationally, the economy had about a dozen speeds, and they changed as the cycles of business ebbed and flowed.
''We've got the milk powder prices probably going to affect the regions, while at the same time, tourism is doing fantastically.
''The New Zealand dollar is dropping so our wine sector is doing well, as is kiwifruit and many other primary products.''
Although there had been a setback in dairy, Mr Woodhouse said milk powder auction prices had rebounded quite aggressively.
''So it's really important to look through those short term numbers and look at the general trend, and the general trend is pretty positive right across the board. It's a much more mixed picture than a glib statement about a two speed economy.''
Government's role was to set the framework to enable business to have the confidence to invest and grow, and the country was seeing the ''fruits'' of that in many industries.
