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Bleak economic outlook for Wellington

Author
Nick Walker,
Publish Date
Fri, 21 Nov 2014, 11:20AM

Bleak economic outlook for Wellington

Author
Nick Walker,
Publish Date
Fri, 21 Nov 2014, 11:20AM

A bleak update on the state of Wellington's economy.

The Capital remains stuck on just two stars and in need of an energy injection in the latest ASB regional economic scoreboard.

The report says construction has been a drag on Wellington's fortunes and residential construction remains weak.

The labour market is also weak with employment down on a year ago, house price growth has been weaker in Wellington than most other regions, there's been low growth in new car registrations and a flat retail sector.

The mix is said to be weighing on consumer confidence, which declined in the last quarter.

 

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