17th June 2022 Economy / Westpac
With agricultural incomes set to remain firm, regions with a food-producing rural backbone should continue to outperform their big city counterparts, according to Westpac’s latest Regional Roundup.
Some 90% of Kiwis surveyed have reported rising fuel and grocery prices are affecting their households, according to Westpac.
Gross domestic product rose by 1.6% in the March 2021 quarter, with increased spending on eating out, accommodation and big ticket items.
The bank described the December 2020 quarter results as a tale of two islands as the north continued to outperform the south.
A two-year project will look at the viability of the industry, worth more than $100m to NZ a year.