NZ: Third consecutive quarterly fall in Regional Economic Confidence – Westpac

According to the Westpac-McDermott Miller Regional Economic Confidence survey, New Zealand’s regional economic confidence deteriorated again in the September 2019 quarter, with all regions recording a fall, marking its third successive quarter where most regions have reported a fall in confidence, notes the analysis team at Westpac.

Key Quotes

“Regions with a rural backbone are still more confident than those with large metropolitan centres, but the gap has narrowed significantly.”

“The biggest falls were in regions most exposed to deteriorating global economic conditions, particularly those heavily dependent on dairy, forestry and tourism.”

“Cantabrians are the most pessimistic about future, edging out Auckland, which saw the smallest decline in confidence.”