Gisborne last on economic scorecard but locals still optimistic for future
Gisborne has gone from first to last ranking on ASB's Regional Economic Scoreboard in less than a year, but locals say there is more to the story and see a more positive outlook for the region's prosperity.
The region was measured as having the highest economic growth in the country
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NZ Herald
2 days ago
- NZ Herald
Gisborne last on economic scorecard but locals still optimistic for future
Gisborne has gone from first to last ranking on ASB's Regional Economic Scoreboard in less than a year, but locals say there is more to the story and see a more positive outlook for the region's prosperity. The region was measured as having the highest economic growth in the country
NZ Herald
4 days ago
- NZ Herald
Watch Herald NOW live: Join host Ryan Bridge for the latest NZ and global news
Join host Ryan Bridge on the NZ Herald's live video show Herald NOW for the latest news from New Zealand and around the world. Foreign Affairs Minister Winston Peters will today be speaking about growing instability globally and ASB's Chief Economist Nick Tuffley talks about the regional economic scorecard. Herald NOW is live at the scene of the devastating New World supermarket fire in Victoria Park and speaking to Foodstuffs North Island CEO Chris Quin. You can watch Herald NOW 7am – 9am weekdays on the NZ Herald homepage. Herald NOW features interviews, panel discussions, investigations and the news, weather and sport updates you need to start your day. The daily livestream will also be available via the NZ Herald YouTube channel, which will also enable Herald NOW to be streamed on smart televisions. Herald NOW aims to address the growing preference for video-based news consumption, filling a significant gap in the New Zealand media market. Bridge promises the show will deliver the 'news you need to know now, in a way that hasn't been done before'. 'I am excited to get our first guests at the desk and show everyone what we've created. I know more than anyone the media industry is changing quickly, and Herald NOW allows our audience to watch from wherever they are, on whatever device they're using," Bridge said. Herald editor-in-chief, Murray Kirkness, said the show represents NZME's commitment to digital transformation and innovation. ' Herald NOW is positioned to transform how Kiwis engage with news content, making quality journalism more accessible and engaging in today's digital-first media environment,' he said.
Scoop
4 days ago
- Scoop
Rural Resurgence Powers South Island Into Lead In ASB's Latest Regional Economic Scoreboard
Canterbury in top spot for Q1 2025 South Island still proving more robust than the North Trouble in the Capital: Wellington remains in 15th place Strong commodity prices and soaring food and fibre exports have helped power the South Island to a strong start to 2025, with Canterbury, West Coast, Otago and Marlborough in the top four spots of ASB's Regional Economic Scoreboard for Q1. Canterbury has kicked off 2025 on a high, securing first place off the back of a broad-based recovery across retail, housing and consumer confidence. 'The scoreboard is reflecting what many in the regions already know - rural New Zealand is doing the heavy lifting right now,' says Chief Economist Nick Tuffley. 'South Island regions are benefiting from strong commodity tailwinds and resilient export demand, especially across dairy, meat, forestry and horticulture.' The rural-led momentum comes as the Government forecasts record-breaking export earnings for New Zealand's food and fibre sector, which are expected to rise 12% to $54.6 billion in the year ahead. Fieldays 2025 has put a national spotlight on the sector's strength, with farmers, growers, fishers and foresters driving a powerful export rebound. According to Tuffley, 'We're seeing the impact of that performance filter through to local economies, particularly in regions like the West Coast, which has posted its best result in four years, and Canterbury, where rural strength is boosting confidence across the board.' The West Coast made a remarkable leap into second place, thanks to robust construction activity and a rebound in retail sales. Meanwhile, Otago slipped to third, ending its long streak of scoreboard wins, despite Queenstown's ongoing tourism strength. In contrast, Wellington ranked 15th for the third consecutive quarter, with Auckland in 10th place. While inflation is easing and interest rates have been cut, households are still feeling the squeeze. 'It's clear that the rural and urban economies seem to be moving at different speeds across the country,' says Tuffley. 'It's regional New Zealand, particularly the food and fibre sector, that's doing the hard work of pulling the national economy forward. Meanwhile, places like Wellington continue to face a range of challenges including employment, construction and consumer confidence.' Looking ahead, ASB sees early signs of recovery emerging across the country, aided by the Reserve Bank's 225 basis points of OCR cuts to date. However, global uncertainty continues to cast a shadow over the pace and strength of that recovery. The full ASB Regional Economic Scoreboard, along with other recent ASB reports covering a range of commentary, can be accessed at our ASB Economic Insights page: @ASBBank @ASBMarkets About the ASB Regional Economic Scoreboard The NZ Regional Economic Scoreboard takes the latest quarterly regional statistics and ranks the economic performance of New Zealand's 16 Regional Council areas. The fastest growing regions gain the highest ratings, and a good performance by the national economy raises the ratings of all regions. Ratings are updated every three months, and are based on 8 measures, including population, employment, retail trade, house prices, house sales, construction, consumer confidence, and new car registration. ASB Bank Helping you get one step ahead. In 1847, ASB opened as the Auckland Savings Bank with the pledge: 'to serve the community; to grow and to help Kiwis grow'. And that is very much what ASB is about today. ASB is a leading provider of integrated financial services in New Zealand including retail, business and rural banking, funds management and insurance. ASB strives to consistently provide its customers with outstanding service and innovative financial solutions. They're dedicated to providing simple financial products that allow their customers to bank with them how and when they want. We all have our own ways to measure progress, and our own stories about the things that matter to us. Whatever way you choose to measure progress, and whatever your goals, ASB is there to help you get one step ahead.
