NZ: Mixed picture of the economy - ANZ

In view of analysts at ANZ, drivers of New Zealand’s economic growth have shifted and this has been reflected in a changing economic landscape regionally, while it’s currently a mixed picture of the economy.

Key Quotes

“Auckland and Canterbury are not the engines of growth they once were. Conditions in Wellington are very favourable. Meanwhile, a number of provincial areas, like Northland, Bay of Plenty, Hawke’s Bay, Otago and Southland have been hot spots – boosted by favourable conditions in agricultural segments, strong tourism, buoyant housing markets, and population growth. However, challenges such as low confidence in the dairy industry are weighing in some areas.”

“Despite regional divergences and strong performance in some places, businesses across a range of regions are wary about the outlook – and there is a risk that the landscape could shift from here.”