The Waimakariri District Quarterly Economic Monitor to June 2023, commissioned by the Waimakariri District Council, was released last week.
The report shows Waimakariri's GDP up 4.3 per cent on last year, compared to 3.1 per cent for New Zealand as a whole.
Enterprise North Canterbury Business Support Manager Miles Dalton says, overall, Waimakariri continues to punch above its weight, relative to the rest of New Zealand.
‘‘Even the areas that look weak on the surface — such as car registrations (down 7.1 per cent ) and residential building consents (down 16.5%)—are not too bad. They are just down on the very strong position they were in a year ago,’’ he says.
In addition to an increased GDP the latest statistics show consumer spending, tourism expenditure, guest nights and employment are all up, with nonresidential building consents topping the list at a 90.2 per cent increase on last year.
‘‘There is a lot of largescale business development going on in the district, which is really exciting, hence the huge increase in nonresidential building consents,’’ Mr Dalton says.
Conversely, house sales, house values and commercial vehicle registrations are all down on last year, in line with the rest of New Zealand. One item of note is the projected dairy payout of $7 next year, he says.
‘‘That is seriously painful for a lot of our farmers, so we will wait to see how this impacts the wider economy.’’
Read the full Infometrics Waimakariri District Economic Monitor at enterprisenorthcanterbury.co.nz
