Otago Enjoys Economic Growth

Waitaki news
Wednesday, November 26, 2014

Waitaki MP Jacqui Dean said positive economic activity for Otago in recent months reflected the strong position the region was in.

According the ANZ's latest quarterly regional trends survey all fourteen regions across the country enjoyed an increase in economic activity, with Otago in the top four just behind Northland, Canterbury and Waikato.

"Positive sentiment in Otago's rural sector is likely to have supported much of the increase. Calving has gone well across the region, with dairy production up 7-10 percent on last year's record and there have been high lambing survival rates, with store prices for beef and lamb also looking good.

"Employment in the region also rose by 1 percent in the September quarter to be 2.9 percent higher than a year ago and while Otago's unemployment rate edged up to 3.8 percent it is still the third lowest across the regions.

"The number of dwelling consents also rose 6 percent in the September quarter - the second fastest rise over the regions and in contrast to the 4 percent decline nationwide.

"There's a really positive feeling around Otago at the moment and I believe the region is well placed to continue to enjoy strong economic activity into the next quarter and beyond."