WELLINGTON - Auckland was one of the more buoyant regions in the March quarter, according to the National Bank.
The bank compiles a composite index of economic activity for each region, reflecting such indicators as business and consumer confidence, exports, vehicle registrations, retail sales, unemployment and real estate turnover.
The2.2 per cent rise in Auckland's activity index was its highest quarterly increase for three years. The annual increase of 1 per cent was in line with the national average.
The main positive indicators were commercial building permits, business and consumer confidence and retail sales. The major negative influence was residential real estate sales.
Northland's 1.8 per cent rise was its largest since 1997, but that was barely enough to keep its annual growth rate in the black; it was 0.1 per cent, the lowest for seven years.
Waikato's employment growth was twice the national average and house sales were strong. But farm sales, retail trade and business confidence restrained the overall indicator to a 1.4 per cent rise in the quarter, making 0.5 per cent for the year.
The Bay of Plenty recorded 2.4 per cent growth for the second quarter in a row. But such was the depth of last year's recession that the annual reading is still negative.
