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Cities booming, regions struggling in latest GDP figures

Author
Newstalk ZB Staff ,
Publish Date
Wed, 9 Mar 2016, 2:43pm
Auckland's GDP was up almost 7 percent for the year, but regions are struggling (Supplied)
Auckland's GDP was up almost 7 percent for the year, but regions are struggling (Supplied)

Cities booming, regions struggling in latest GDP figures

Author
Newstalk ZB Staff ,
Publish Date
Wed, 9 Mar 2016, 2:43pm

Auckland and Canterbury have led increases in income earned from production in the latest regional GDP figures out today.

It's for the year to March 2015.

Auckland’s GDP increased $5.7 billion, up almost 7 percent, Canterbury’s rise of $2.3 billion was up 7.3 percent and Wellington's GDP rose $1.2 billion dollars up 3.7 percent.

The national increase was $8.7 billion dollars - up 3.7 percent.

However, Southland's GDP has fallen by 10 percent, and the West Coast by 5 percent in the year to March 2015.

Labour's Economic Development spokesperson David Clark said Southland has been hit hard by the dairy price drop, which can in part be laid on the Government.

"For not ensuring that other areas of the economy in Southland have prospered, for not supporting the aspirations to develop technology or tourism or other opportunities there as much as they might."

Falling dairy prices have seen Taranaki's GDP drop three-point-three percent, and Waikato two-point-two.

Clark said the Government needs to take action

"This government has failed to diversify the economy, and instead seems content to manage decline."

"That's not good enough for New Zealand. New Zealanders want a country where the Kiwi dream can be realised."

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