Strong economic result for Auckland

Auckland’s strong economic performance in the latest National Bank regional trends review provides renewed market confidence for the region.

Auckland’s regional economic activity rose 2.4 percent year-on-year, on the back of a volatile global market and tough domestic environment.

Clyde Rogers, General Manager Business and Sector, Auckland Tourism, Events and Economic Development (ATEED) says this is significant for the whole country.

“Auckland is driving New Zealand’s economic prosperity. Obviously the impact of RWC 2011 has accounted for a significant spin off for the retail, hospitality and accommodation sector. I believe that the longer lasting impacts of RWC 2011 on business and market opportunities will not become apparent till much later this year”, says Mr. Rogers.

Employment in the region is up 7.7 percent from a year earlier. This compares with a 1.6 percent rise nationally. Year on year, building consents increased by 19 percent while house prices still continue to rise, all contributing to the latest findings.

Today there are 1.5 million people living in Auckland, with population growth rates increasing by 10 per cent per annum.

“Auckland has the people, businesses and institutional framework, the challenge is connecting up the system, and commercialising knowledge with input from the private sector”, he said.