Manawatu Monthly Economic Outlook Reports
March 2012
The latest monthly economic update with comments on March 2012 Ministry of Social Development benefits data and March Paymark electronic transactions expenditure in the Palmerston North region.
Key trends were:
- 20% decline in the number of people in the region in March who were registered for the unemployment benefit compared with March 2011 (national decline of 11%).
- The proportion of the working age population registered for the unemployment benefit was 1.2% in the region (0.8% in Manawatu District and 1.4% in Palmerston North) compared with 1.5% for New Zealand.
- 8% decline in the number of people in the region who were registered for the sickness benefit (national decline of 2%).
- the number of people in the region receiving the domestic purposes or invalids benefits was unchanged from March 2011.
- 6.9% increase in the value of electronic transactions through the Paymark network in March in the Palmerston North region (national increase of 2.7%). There was an increase of 8.8% in the March quarter compared with national growth of 4.0%.
- the monthly rate of growth in the value of expenditure through the Paymark network in the Palmerston North region has been more than twice the national growth rate for the last five months.
To read the full report Manawatu Monthly Economic Update March 2012
February 2012
The latest monthly economic update with comments on February 2012 Paymark electronic retail transactions in Palmerston North and overseas migration for the Manawatu region for the 12 months to February 2012.
Key trends were:
- 32% increase in the value of international card holder retail spending through the Paymark network in Palmerston North in the month of February compared with national growth of 1%,
- 6.0% increase in domestic card holder spending in the city compared with a national decline of 1.8% (a major national retailer switched out of the Paymark in May 2011, explaining the decline in New Zealand retail expenditure – the retailer is also present in Palmerston North),
- the leap day in February added to the growth in retail sales in February,
- there was a net loss of 158 people from the Manawatu region from long-term and permanent overseas migration in the 12 months ended February. This compares with a net gain of 105 people in the previous year,
- national net migration declined from a gain of 8,249 people in the 12 months to February 2011 to a net loss of 4,068 people in the year to February 2012,
- the number of departures from the region is still below the previous peak in 2008 but the number of departures nationally is at record levels.
To read the full report Manawatu Monthly Economic Update February 2012
December
The latest monthly economic update with comments on December Paymark electronic retail transactions data and registered beneficiaries at the end of December.
Key trends were:
- 25% increase in the value of international card holder retail spending through the Paymark network in Palmerston North in the month of December,
- 4.6% increase for domestic card holder spending in the city,
- there were 1,474 people receiving an unemployment benefit in the Manawatu region at the end of December, an increase of 53 people from September but 53 people less than in December 2010 (5.3% decline)
- there was a 10.6% decline in the number of people registered for the unemployment benefit in New Zealand (from December 2010)
- there was an increase of 160 people in the Manawatu region receiving the student – hardship benefit
- there was little change in the number of people receiving other benefits in the region (domestic purposes, sickness and invalids)
To read the full report Manawatu Monthly Economic Update January 2012
November
The latest monthly economic update with comments on November Paymark electronic retail transactions data and overseas migration for the 12 months ended November.
Key trends were:
- 33% increase in the value of international card holder retail spending through the Paymark network in Palmerston North in the month of November,
- 2.8% increase for domestic card holder spending in the city,
- growth in retail sales for the 12 months to September was inflated by the 1 October 2010 increase in the GST rate,
- a net loss of 45 people from the region from overseas migration in the 12 months to November 2011 compared with a net gain of 103 people in the previous year,
- total arrivals in the region increased by 7% in the 12 months to November but this was more than offset by a 19% increase in the number of departures,
- since June this year the number of arrivals has been increasing while the rate of growth in departures is lower, bringing more stability in the net migration for the region,
- national data shows a deterioration in net migration from a gain of 11,519 people in the year to November 2010 to a loss of 568 people in the year to November 2011.
To read the full report Manawatu Monthly Economic Outlook December 2011
October
The latest monthly economic update with comments on October Paymark electronic retail transactions data and house values in October.
Key trends were:
- 52% increase in the value of international card holder retail spending in Palmerston North,
- 6.8% increase for domestic card holder spending in the city – it is likely growth was boosted due to the school holidays being shifted to October
- growth in retail sales for the 12 months to September was inflated by the 1 October 2010 increase in the GST rate – the October data provides the first annual comparison for sales based on the 15% GST rate
- house values are increasing gradually in Palmerston North and Manawatu District but are still below the peak prior to the global recession
- declines in annual house values are still being reported in most urban areas – Auckland, Palmerston North, Nelson and Christchurch were the only urban areas with annual increases in the year to October
- 52% increase in the value of international card holder retail spending in Palmerston North,
- 6.8% increase for domestic card holder spending in the city – it is likely growth was boosted due to the school holidays being shifted to October
- growth in retail sales for the 12 months to September was inflated by the 1 October 2010 increase in the GST rate – the October data provides the first annual comparison for sales based on the 15% GST rate
- house values are increasing gradually in Palmerston North and Manawatu District but are still below the peak prior to the global recession
- declines in annual house values are still being reported in most urban areas – Auckland, Palmerston North, Nelson and Christchurch were the only urban areas with annual increases in the year to October
To read the full report Manawatu Monthly Economic Outlook November 2011
September
The latest monthly economic update has comments on September Paymark electronic retail transactions data and house sales in September.
Key trends were:
- 52% increase in the value of international card holder spending in Palmerston North, resulting in additional spending of $191,000 compared with September 2010 (spending in September 2010 was 10% higher than the previous year)
- international retail spending has been increasing strongly over the last 12 months but the rate of growth began to accelerate in May. A contributor to this may be advance payments for accommodation in the city from Rugby World Cup visitors.
- the opening of new galleries at Te Manawa and the revamped Rugby Museum may have also contributed to the increase in international spending
- the growth rate for domestic card holder spending in the city was just 3.2%, but this reflects the strong increase in spending in September 2010 prior to the 1 October GST increase
- house sales increased by 33% in September and the number of houses sold in the month was the highest recorded for a September since 2007. New Zealand house sales increased by 21% in the month.
- over the past five years the housing market in Palmerston North has led national trends by two to three months, with both improvements in house sales and slowing in activity occurring earlier in the city than the national trend
To read to full report Manawatu Monthly Economic Outlook October 2011
