Spending figures ahead of national average help with Taranaki's Covid 19 recovery

Taranaki retail statistics for the week ending July 5 show that Taranaki is still tracking ahead of the national average for spending.

Local spending is also up compared to this time last year. The sustained above-national-average in retail spending is likely to aid with the recovery of Taranaki's economy post Covid-19.

When compared to the retail spend this time last year, spending is up 5.9 per cent, ahead of the national average, which is at 3.9 per cent.

This is the seventh week in a row that Taranaki has been ahead of the national average.

Taranaki's transaction volume is down 1.5 per cent from this time last year. However, this figure remains ahead of the national average transaction volume, down 2.4 per cent from this time last year.

Venture Taranaki's general manager regional strategy and sectors Anne Probert can see the benefit of Taranaki's sustained retail spend.

"The Go Local campaign has really resonated with our community, and provides much-needed support for our local enterprises, helping to keep people in jobs, and our economy going.

"Retail spending is only one aspect of our economy in Taranaki, and consciousness of where spend is going, whether that be through work tenders, supply chain decisions, project work, or ordering small items can all make a difference for our recovery, post Covid-19."

Taranaki ranks second on the ASB Regional Economic Scoreboard.

Venture Taranaki chief executive Justine Gilliland says it's great to see ASB spotting the region's potential and resilience in their regional rankings.

"The activity on which that ranking is based placed us in good stead for the shocks of the more recent quarter, with the next assessment from ASB being a key one to watch. Our retail stats show good positivity in the region and activity is back up again, showing our regional resilience and collaboration coming through.

"Those key strengths will be critical as we look to 'return to better', with a focus on smart, connected communities and enterprises, adding more value in our food sector and continuing our position as the energy region for NZ, in a low-emissions future."