Nelson. Photo: RNZ / Tracy Neal
Recent stats show economic growth in Nelson-Tasman is leading the country in the last quarter.
Expenditure on gross domestic product in the region rose 4.1 percent in the March quarter, compared to a 2.9 percent annual increase for the same period nationwide.
Infometrics principal economist Brad Olsen said that level of growth, at a time when a number of economic indicators were signalling a weaker outlook, was remarkable.
Consumer spending was up by 7.3 percent, while tourism expenditure and guest nights were both up by 16.7 percent across Nelson and Tasman.
Brad Olsen Photo: Tom Furley
Nelson Regional Development Agency (NRDA) chief executive Fiona Wilson said the number of filled jobs held by Nelson-Tasman residents rose to 2.9 percent over the year to March, stronger than the national average, while there was a 13.5 percent drop in Jobseeker Support recipients.
"While it is important to remember that these quarterly figures are subject to fluctuation, and we are in a very challenging regional context, including low productivity, low wages and high housing costs, it is always cause for celebration when the region is heading in a positive direction."
NREDA manager regional of strategy and investment Gareth Power Gordon said while residential consents were down in Nelson City, that was offset by significant activity in the Tasman District. On the flipside, Tasman District saw a decrease in non-residential consents which was offset by Nelson City.
"There are some signs that households and businesses are being prudent in the face of continuing interest rate hikes, inflation and the looming wave of fixed-rate mortgage expirations."
