Farm and house sales help region in economic report
The number of farm sales in the Manawatu-Wanganui region rose by 13 percent to top the country in the June quarter.
Tuesday, August 23rd 2005, 7:48AM
by The Landlord
The National Bank's economic trends report said the region's house sales were strong also, increasing by 7 percent, the second biggest rise regionally.Compared with other parts of the country, businesses in the Manawatu-Wanganui region were described as "more optimistic" than most, with a national ranking of fourth.
However, retail sales and unemployment lagged behind the national benchmark and total economic activity slipped by 0.4 percent in the June quarter.
"Nonetheless, annual economic growth in the region remains solidly above the national benchmark," the report said.
National Bank economist Steve Edwards said 11 regions recorded a drop in economic activity in June and only three showed an increase, making it the weakest quarter since June 2000.
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