Overview of Waikato Region in the Infometrics Quarterly Review
The Waikato Region continues to quietly get on with business despite a minor reduction in the region’s GDP in the last quarter.
Given the recent rise in the Global Dairy Trade auction prices we see a more positive outlook for our economy running up to Christmas than we have enjoyed in the previous 6 months.
Infometrics highlight issues in construction, retail, transport and manufacturing that contribute most to the small decline. This would not be news to Waikato business people, but it is marginally better than the rest of NZ.
The Infometrics Quarterly Review is an excellent measurement tool for businesses wanting to understand how our complex economy is performing. There are several insights worth considering, our population is increasing and with it a solid increase in rental prices, however, dwelling consents have dropped as construction cools. Hiring is reducing as many would attest. Of concern is our crime rate per 10,000 residents, whilst one of the region’s lowest in the past decade, however, it is still 19% higher than the national average.
We also need to factor in the substantial increase in rates that have come in this third quarter. Waikato businesses will need to keep control of their costs and if necessary, shift selling prices in their markets as we move into the warmer spring and summer months
There is much for business owners to digest but it is presented in an easily understood format and it is good to see how the mighty Waikato measures up to the NZ figures.
Don Good
CEO, Waikato Chamber of Commerce
