Economy improves

Last updated 13:53 30/11/2012

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The Marlborough economy performed strongly in the last quarter thanks to a boost in construction, the ASB Bank's regional economic scoreboard report shows.

The improvement in the region's economy came on the back of a mini-construction boom, the report says.

In the past quarter, $23 million was spent on construction in the region, up 31 per cent on last year. Although house prices fell slightly, the number of houses sold this year had risen steadily, and non-residential construction was double the same time last year, the report said.

Retail trade fell five per cent to $131m, but Marlborough Chamber of Commerce chairman Brian Dawson said confidence was growing among big corporates and the wine industry with Rebel Sport, Pak 'N Save, Bunnings, Countdown and wineries undertaking big extensions.

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- The Marlborough Express


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