Wellington in top place on growth table

Wellington topped the table in economic growth for the September quarter, says the National Bank regional trends survey.

Eleven of the 14 regions monitored in the survey had rises in economic activity during the quarter.

Wellington's 1.8 per cent increase was the region's largest quarterly gain in five years.

Manawatu-Wanganui had the next-biggest gain with a 1.7 per cent rise, buoyed by a 16 per cent increase in farm sales.

Economic growth rose 1.2 per cent in Canterbury, where consumer confidence hit a 10-year high.

Auckland reported a modest 0.5 per cent rise in economic activity for the quarter, but the region's business and consumer confidence lagged behind economy-wide benchmarks for the first time in 12 years.

Also on the rise were the West Coast up 1.5 per cent, Northland up 1.4 per cent, Otago up 1.4 per cent, Taranaki and Waikato up 0.8 per cent, Southland up 0.3 per cent and Hawkes Bay up 0.2 per cent.

Gisborne could not sustain its nearly 3 per cent rise recorded in the previous quarter.

Instead, the region posted the largest decline in economic activity, down 1 per cent.

Other regions on the downside were Bay of Plenty, down 0.8 per cent and Nelson-Marlborough, which slipped 0.3 per cent.

Economic activity in urban areas - Auckland, Wellington and Christchurch - rose 1.0 per cent, and rural New Zealand posted a 0.6 per cent rise for the quarter.

But the country's annual growth of 4.8 per cent outstripped the 3.6 per cent economic growth in the cities.

The South Island's 0.9 per cent rise outpaced the North Island's 0.7 per cent gain.

Year-on-year economic growth accelerated in three regions: Northland, Taranaki and Canterbury.

Taranaki and the West Coast had the two fastest-growing economies in the 12 months to September, with growth of 5.5 per cent each.

Gisborne had the slowest annual growth of 2.5 per cent, followed by Wellington and Auckland with 2.7 per cent and 3.7 per cent respectively.

The survey uses 23 indicators, including building permits, retail sales, vehicle registrations, and consumer and business confidence, to produce an overall measure of economic growth.

- NZPA