EDA Report Shows Economic Growth for Nelson

The Nelson Regional Economic Development Agency has released its February 2014 report “Tracking the Nelson Region’s Economic Progress”.

There are numerous key indicators in this report that show the Nelson region is doing well in terms of economic recovery and that our region is tracking well against national statistics.  In fact the report shows that Nelson-Tasman outperformed that national average in areas such as GDP and employment growth in the year until March 2013.

These trends are likely to have been further boosted this year due to our regional economy’s strong performance in the primary industries.  Confidence in the regional economy also rose sharply by the end of last year, auguring well for 2014.

There’s no doubt retail has done it tough between 2008 – 2011 but all economic indicators show steady growth in retail sales over the past 2 years.  Some businesses have closed when trading got too tough, but there are encouraging trends here too.  In 2013 for every 100 businesses that closed in Nelson, 98 new ones opened, but in Tasman that figure was 83:100*.  This shows that Nelson City remains the powerhouse of the region in terms of new business renewal and business confidence.

* Figures are statistical data, not actual figures.

For more information and a copy of the report visit http://www.eda.co.nz/business/reports/performance-indicators/