The Infometrics Quarterly Economic Monitor report for September shows that despite the Waikato spending the second-longest period of time in level 3 or higher, the region remains resilient with several key economic indicators showing growth.
Overall economic activity in Waikato grew at a strong rate of 4.5 per cent for the July/August/September 2021 quarter, outpacing the national growth rate of 3.7 per cent. The severe lockdown has had an impact, however, with this being a 2.5 per cent decline compared to the same period in 2020.
Waikato Chamber of Commerce CEO Don Good said: "The Waikato has been New Zealand's quiet achiever for many years and it is reassuring to see this trend continues in 2021, despite spending a fair portion of the quarter under some sort of lockdown restriction."
![Waikato Chamber of Commerce CEO Don Good encourages everyone to go out and support their favourite local businesses while continuing to follow Covid guidelines. Photo / Supplied](https://www.nzherald.co.nz/resizer/v2/HI76STMLYKUHGR5OIY7X5NZUHE.jpg?auth=76322c6fbd095121742bebe4db35f4b90194b7c8302eca200c445ccec2f44e50&width=16&height=22&quality=70&smart=true)
The strong agricultural sector has played a large part in this growth, continuing to operate throughout the lockdowns and buoyed by growing dairy prices. Increased input costs will have a diminishing effect, however, the forecasted high dairy payout will inject a sizeable boost into the regional economy.