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Agricultural focus helps rural NZ dominate latest regional rankings

Agricultural focus helps rural NZ dominate latest regional rankings Newshub 18/12/2020 © Provided by Newshub Northland has come out on top in ASB s latest Regional Economic Scoreboard, helped in part by a strong forestry sector. The scoreboard takes into account factors like employment, population growth and house prices to rank the economic performance of the country s 16 regional council areas. Northland moved up seven places to snag the top position for the September quarter, in what the bank described as a stunning performance .  Rural New Zealand dominates our index, with Bay of Plenty and Waikato rounding out the top three, said senior economist Chris Tennent-Brown.

Rural NZ dominates latest regional economic rankings, thanks in part to agricultural focus

He said Northland s top spot came amid challenging conditions for the region. It’s an impressive performance given the region should have been more exposed than most to the reimposition of COVID Alert Level 3 in Auckland during August. Its high ranking was attributed to solid population growth, as well as its figures for employment, retail trade and new car sales. Forestry in the region was also described as being a big boon . Forestry exports are performing strongly thanks to the rapid Chinese recovery, and the booming construction outlook domestically is also acting as a key support. Forestry products are also one of the few commodities where prices are also largely matching last year, Tennent-Brown said.

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