While many parts of the country are still feeling the weight of a slow recovery, Manawatū’s economy is holding its ground. The region’s strong rural base, public sector stability, and rising exports continue to provide resilience, even as national growth remains muted.

GDP in Manawatū declined by just 1.1% over the year to March – a softer landing than many urban centres. Exports are powering ahead, with dairy, beef, and lamb leading the way. Meanwhile, non-residential construction has jumped 32.4%, driven by investment in industrial buildings, education, and farm buildings.
 
Across the board, there are signs of confidence returning. Job ads are climbing, first-home buyers are strong in the market, and falling interest rates are expected to ease pressure and support recovery in the second half of the year.

“What we’re seeing is the strength of Manawatū’s underlying economy – diverse, connected, and forward looking. The region’s resilience comes from its mix of stable public sector roles, world-class research and logistics infrastructure, and a deep connection to the land through high-value food production.”
 
 - Notes Jerry Shearman, CEDA's Tumuaki - Chief Executive.

Commentary and Insights - On the ground

In this edition we talk to Jen Taylor from Taylored Mortgages and Victoria Liddicoat from Diligence Property Management about what’s happening on the ground in the housing market from both a lending and rental perspective. With sustained growth still needed to support the wider construction industry, we also hear from Angus Terry – Project Manager at Alexander Construction.

Read more in the March 2025 Quarterly Economic Snapshot here