Drop in Southland GDP not cause for concern

Invercargill mayor Tim Shadbolt
Invercargill mayor Tim Shadbolt

The Mayor of Invercargill says he's not the least bit worried by new figures showing a drastic drop in Southland's GDP. It's part of regional falls across the country - including 10 percent in Southland, and five percent on the West Coast.

Mayor Tim Shadbolt says falling dairy prices are partly to blame, but the Southland economy is diverse, and he thinks it will bounce back.

He says it may have been a different scenario 20 years ago, when the economy was completely dependent on agriculture, but now the region has a plethora of activities.

Tim Shadbolt says a major factor is confidence, and that's something business leaders in Southland have.

- Newstalk ZB

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