December Quarterly Economic Update
Infometrics’ provisional estimate of GDP shows that Timaru’s economy grew by 1.2% in the year to December 2015, following more rapid growth of 5.1% in 2014. Economic activity in Timaru has moderated in line with the bleaker dairy outlook, while housing construction and retail trade have also eased.
Activity levels at PrimePort Timaru continue to expand. Total freight volumes through the port were up 11% in 2015, with import volumes rising 30%. Tourism activity in the Timaru District has also picked up significantly over the final stages of 2015. Not only did guest nights rise sharply, but the Ministry of Business, Innovation & Employment Regional Tourism Indicators also shows a lift in card spending by tourists.
View the full Infometrics report at www.southcanterbury.org.nz