Economic Update - November 2015
Attached is the latest monthly economic update, with comments on electronic card retail spending in October and visitor nights during the year ended September 2015. Please let me know if you have any queries about the current update or the data.
Marketview electronic card retail spending (October 2015):
- Electronic card retail spending (debit and credit card) in the Manawatu region increased by 0.6% in October while New Zealand retail spending increased by 2.4%.
- Spending in Palmerston North declined 0.4% while Manawatu District spending increased by 3.7%.
- Spending at takeaways in the region increased by 13.1% but accommodation spending declined by 5.8% and fuel spending declined by 9.7%.
Visitor nights (year ended September 2015):
- There were 2.2 million visitor nights in the Manawatu region in the year ended September 2015, an increase of 4.6% from 2014.
- Commercial accommodation visitor nights increased by 7.4% from the previous year while nights in private homes increased by 3.9%.
- Motels have accounted for most of the increase in guest nights in commercial accommodation between 2014 and 2015 but there has also been a recovery in hotel guest nights.
- Annual visitor nights in the region have increased by 60% over the last ten years, from 1.4 million nights in 2005 to 2.2 million in 2015:
- Commercial accommodation nights weakened slightly between 2005 and 2015.
- Visitor nights in private homes doubled between 2005 and 2015, rising from 0.9 million in 2004 to 1.8 million in 2015.
Vision Manawatu September Newsletter
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Quarterly Economic Monitor - June 2015
The Quarterly Economic Monitor report for Manawatu to June 2015 has been released.
Key trends for the quarter were:
- Estimated annual GDP growth in the Manawatu region was 2.0% in the year to year ended June 2015.
- Palmerston North GDP increased by 2.2%,
- Manawatu District GDP is estimated to have declined by 1.4%, reflecting the greater impact of the dairy sector on the District’s economy,
- New Zealand GDP is estimated to have increased by 3.1% in the year to June 2015.
- Electronic card retail spending in the Manawatu region in the June quarter was $298 million, an increase of 2.9% from the June 2014 quarter, while national growth was 2.3%. Statistics New Zealand estimates that retail prices fell by 1.7% in the year to June 2015.
- Commercial accommodation guest nights in the Manawatu region increased by 12.2% in the June quarter while national guest nights increased by 4.1%.
- Consents for 64 new residential dwellings were issued in the region in the June quarter compared with 76 in the June 2014 quarter, a decline of 22%. National consents increased by 3%.
- Non-residential consents to the value of $103 million were issued in the region during the year to June 2015, an increase of 71% from the previous year. National consents increased by 17% over the same period.
- Car registrations in the region increased by 13.9% in the year ended June (national registrations increased by 15.4%) while the number of commercial vehicles registered declined by 7.0% (national increase of 12.6%).
- It is estimated the annual average unemployment rate in the Manawatu region in the year ended June was 7.2% compared with 5.7% for New Zealand. The number of people in the region registered for the MSD Job Seekers benefit increased by 1.4% in June 2015 from June 2014 while the number in New Zealand declined by 3.4%.
- Traffic flows in the Manawatu region in the year to June increased by 4.0% from 2014 compared with an increase of 3.3% for New Zealand.
- The Manawatu region experienced a net gain of 612 people from overseas migration in the year ended June 2015 compared with a net gain of 387 people in the year to June. The average annual gain in the region over the last 10 years was 101 people.
- Ministry of Business, Innovation and Employment tourism spending estimates show that domestic visitor spending in the region increased by 9.4% in the June quarter, well ahead of national growth of 1.6%. International visitor spending growth in the region increased by 22.5% compared with national growth of 11.1% in the quarter.
Economic Update - August 2015
Here is the latest monthly economic update, with comments on the latest Ministry of Social Development benefits and overseas migration data for August. Please let me know if you have any queries about the current update or the data.
Marketview electronic card retail spending (July 2015):
- Electronic card retail spending (debit and credit card) in the Manawatu region increased by 4.1% in July while New Zealand retail spending increased by 3.4%.
- Spending in Palmerston North increased by 3.7% in May while Manawatu District spending increased by 6.5%.
- Accommodation spending in the region increased by 26% in July, spending at takeaways increased by 14% and there was a 7% increase at bars/cafes and restaurants.
- There was also strong growth in spending at department stores, furniture and floor and appliances stores compared with the national trend.
Births and deaths (year ended June 2015):
- Natural population growth in the region (the difference between the number of births and deaths) was 682 people in the year to June 2015, an increase from the gain of 628 people in the previous year.
- There were 1,485 births in the Manawatu region in the year to June 2015, a 2% increase from 2014.
- The number of deaths in the region declined by 3% from 2014, with 803 deaths recorded in the year to June 2015.
- The number of births has been increasing more strongly in 2015, with an increase of 7% in the March quarter and a 10% increase in the June quarter.
- While there is volatility in the births data, one factor supporting the current increase may be the significant decline in the number of young people moving to Australia.
Economic Update - May 2015
Here is the latest monthly economic update, with comments on the electronic card retail spending in April and a summary of key indicators for the transport sector.
Marketview electronic card retail spending (April):
- Electronic card retail spending (debit and credit card) in Palmerston North increased by 3.4% in April while Manawatu District declined by 2.3%. New Zealand retail spending increased by 2.8%.
- There was a 24% decline in spending at fuel outlets in Manawatu District while spending in Palmerston North declined by 7%, reflecting lower fuel prices in April. Fuel spending in New Zealand declined by 8%.
- The transport sector in the Manawatu region had annual earnings of $109 million in the year to March 2013, 3.9% of total earnings in the region (salaries, wages and self-employment income). Earnings in the sector increased by 118% from 2000, well ahead of the 86% growth in overall earnings for the region and the 84% increase for the New Zealand transport sector
- Key indicators for the sector are:
- Fuel sales volumes (petrol and diesel – Manawatu-Horowhenua region) – 192 million litres in year to March 2015, 1.7% annual increase.
- Car registrations (new and ex-overseas registered cars – Palmerston North region) – 5,964 cars in year to March 2015, 9.3% annual increase.
- Air passengers (arrivals and departures at Palmerston North Airport) – 468,000 passengers in year to March 2015, 4.3% annual increase.
- Rail freight (internal, to other regions, from other regions – Manawatu-Wanganui region) – 1,898,746 net tonnes in year to December 2015, 10.0% annual increase.
- Bus patronage in Palmerston North and regional services to Palmerston North – 1,142,870 passengers on City services in year to March 2015, 4.3% decline and 107,892 passengers on services from Feilding, Levin and Marton in year to March 2015, 2.1% increase.
- Pedestrian counts in Palmerston North CBD – 8,026 pedestrians during selected time periods in November 2014, 3% decline from 2013.
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Business Mentors New Zealand
Businesses require a variety of skills and information at different stages and this is where a Mentor can greatly assist.
Vision Manawatu is the regional coordinator for BMNZ, a mentoring programme that offers expertise in all areas of business including the Non-Profit sector and Start-up businesses.
Manawatu Chamber of Commerce
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Our region is packed with creative, innovative businesses and individuals whose imagination and determination to succeed make Manawatu the fantastic region that it is. The Westpac Manawatu Business Awards recognise and celebrate the achievements of our region's outstanding business people.
FoodHQ is New Zealand's international centre for collaborative food research. We generate value for the global food industry through innovation across the value chain. The FoodHQ super campus being developed in Palmerston North will give current and future global customers one-door access to the very best in New Zealand food innovation. The collaborative approach creates a faster, easier way for food companies to work with the FoodHQ family.
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Defence is a key sector for our region and will become even more so in future.
The Defence Hub provides businesses that wish to engage with defence forces a membership based organisation to provide assistance.
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The awards celebrate student success and involvement in clubs, societies, student events and the arts, be it theatre, dance, music or visual.
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