Regional economic activity still growing

Things do not seem to be that bad in the regions, if the latest National Bank survey is anything to go by.

Ten of the 14 regions recorded a rise in economic activity in the final three months of last year. The West Coast was top of the pops in the bank's Regional Trends survey for the December quarter. It notched up a 2 per cent increase in economic activity.

Gisborne and Nelson-Marlborough rose 1.7 per cent, Bay of Plenty 1 per cent, Canterbury 0.9 per cent, Southland 0.7 per cent and Otago 0.4 per cent.

Wellington, where all the economic stimulus packages are being hatched, recorded negative growth of 1.5 per cent.

Auckland was flat with 0.1 per cent growth, as was Waikato.

Northland and Taranaki recorded back-to-back declines in economic activity. All South Island regions recorded a rise in economic activity in the quarter.

In aggregate, the South Island posted a 0.9 per cent rise in economic activity, while the North Island recorded a 0.3 per cent decrease.

The West Coast and Gisborne are the smallest regions from an economic perspective.

- NZPA