Nelson has knocked Otago from the top spot as New Zealand’s best-performing region in the latest ASB/Main Report Regional Economic Scoreboard.
The December 2016-quarter report reveals Nelson has risen from second place and is “firing on all cylinders” with booming horticulture, viticulture, tourism and construction.
Meanwhile, ASB Chief Economist Nick Tuffley says the Tasman region has jumped four spots in the rankings this quarter to second place.
“Just as Nelson retailers have benefitted from the tourist dollar, so too, has Tasman. We wouldn’t be surprised to see Tasman make a run for the top spot across 2017.”
Previously at the top of the board, Otago has dropped down six places which Nick attributes to the region being unable to continue to grow at the rates it has been.
Waikato and the West Coast are the biggest movers, jumping up seven spots while the Kaikoura earthquake continues to impact Wellington and Marlborough, both dropping six spots.
The Regional Economic Scoreboard takes the latest quarterly regional economic statistics and ranks the performance of New Zealand’s 16 regional council areas on measures such as employment, construction, retail trade and house prices.
ASB/Main Report Regional Economic Scoreboard
1 Nelson: Up 1
2 Tasman: Up 4
3 Waikato: Up 7
4 Gisborne: Up 3
5 West Coast: Up 7
6 Hawke’s Bay: Down 3
7 Otago: Down 6
8 Bay of Plenty: Down 1
9 Northland: Down 2
10 Wellington: Down 6
11 Marlborough: Down 6
12 Auckland: Down 1
13 Manawatu-Whanganui: Up 1
14 Taranaki: Down 1
15 Canterbury: Up 1
16 Southland: Down 1