Insight: Hawke's Bay business owners confident

It's business as usual for Thompson's Suits after a top economist predicted a plateau in the Hawke's Bay economy. Photo/Warren Buckland

While a leading economist said "the party is over" for the Hawke's Bay economy, business owners have a different idea.

Westpac chief economist Dominick Stephens said although the housing market remained high in Hawke's Bay, other factors were slowing the local economy, but business doesn't look to be slowing down anytime soon.

Hutchinson's general manager Hamish Gibbs said despite moving location, business was better than ever.

"We've just had our first big sale of the year and that's gone really well, our sales guys have never been so busy.

"We were a bit worried about moving to a new location, but since we made the decision, the area is really vibrant and busy. It was a very good move.

"I think after the election, the economy dipped a bit, it's a confidence thing. People just get on with things."

Gibbs said it was normal for the economy to dip and dive and said a number of factors contributed.

"It could be anything from seasonal changes, to tax reasons, to holiday periods; these things can always affect businesses."

Thomson's Suits manager Angus Thomson also believed it was going to be a while before the economy flattened out.

"At the moment we're just running as normal. We had a really good summer and Hawke's Bay is a seasonal place, it always brings a lot of people to the region and there's lots to do in the summer and autumn seasons.

"Usually in the winter months, people tend to go into hibernation and things always slow down a little bit.

"There seems to be a lot of confidence out there with building and development going on. I think that Hawke's Bay has a lot more to go before it plateaus out. One day it will, but I think there will be a number of factors involved in that."

Hawke's Bay Peugeot dealer principal Martin King also said he didn't predict a plateau anytime soon.

"Last month was our second strongest month in five years, in saying that, we have been working really hard," he said.

"It's the old sales story, head down, bum up. We've got several divisions in our company, different marks and brands, used cars, service and parts, it's all going strong. It's mainly local buyers, but we do get the odd one out of town."