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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.”