Marlborough 3.5% GDP outstrips national average

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Marlborough 3.5% GDP outstrips national average

The latest economic data for the Marlborough region shows a growing population triggering more spending and investment with residential building soaring by 33% over the last year.

While the New Zealand’s economy grew steadily during the September quarter, Marlborough was a strong performer with economic growth of 3.5%, a full point ahead of the national average.

Despite the earthquake’s interruption to the tourism sector, business investment and spending in this region is remaining buoyant although the housing real estate market is beginning to cool down.

The overall outlook for Marlborough’s primary production economy is good; prices for forestry, horticultural products, seafood and meat, have all risen recently and the falling NZ dollar is also helping export economies like Marlborough’s.

Council’s website has the latest Infometrics snapshot of the Marlborough’s economy:

https://ecoprofile.infometrics.co.nz/Marlborough+Region/QuarterlyEconomicMonitor

The Infometrics research, commissioned as part of Council’s Smart Business Marlborough economic development programme, provides free, up-to-date information about the region’s economy for local businesses.