LINDY ANDREWS
Hawke's Bay businesses have reason to gloat, despite suffering a $2.5 million slump in retail spending recorded for the September quarter.
National Bank's Regional Trends released yesterday revealed Hawke's Bay as the only region to record four consecutive quarters of growth in economic activity - boasting year-on-year growth of 2.4 percent.
Meanwhile, the rest of New Zealand suffered a decline in either the June or September quarters.
Consumer confidence was running high, with the Bay running a close second to Wellington.
Hawke's Bay also recorded the biggest rise in commercial vehicle registrations and the number of farms sold was up a healthy 27 percent.
Business confidence rebounded in every region, with the Bay of Plenty taking line honours and Hawke's Bay trailing the field.
The only black spot on an otherwise bright economic performance was commodity prices, which eased over the September quarter.
Hawke's Bay orchardists copped an economic blow on the chin as apple prices plummeted.
Over all, economic activity was up across the country, with Wellington taking the lead at 3.5 percent growth.
The North Island recorded a 2 percent lift in activity, while the South Island brought up the rear at just 1.6 percent.
Nationwide, economic activity grew 1.6 percent for the quarter.
Rosy record for Bay economy
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