Economy a bumper

The Hawke’s Bay economy is ‘simmering’ and close to ‘steaming’, jumping four places to sixth in a quarterly report by Trans Tasman Media.

The Main Report measures the economy of New Zealand’s 16 regions and ranks them against each other. In the June report the only region to make bigger gains than Hawke’s Bay was Otago which leapt eight spaces to fourth. Marlborough made the same ground as Hawke’s Bay, up four places to seventh.

The report gives four grades: cool, stable, simmering and steaming. The results are based on a range of statistics including employment rates, construction figures, retail results and house prices.

In its commentary on Hawke’s Bay, the report says construction in the region was running at a “solid pace” and the outlook was “optimistic” based on solid prospects for tourism, horticulture and viticulture.

The latest positive report came on the back of an upbeat MarketView quarterly retail sales report for Hastings. That showed a spending increase of near 10 per cent across the district for the quarter ended June compared to the same three months the previous year.