The latest economic data shows that annual inflation is sitting at 4% both nationally and for Manawatū in the year to March 2024.
Unemployment has increased slightly over the year, reflecting tight labour conditions nationally that Manawatū is not immune from, especially as job cuts across the public and private sector continue to be rolled out. While GDP growth for Manawatū is in the negatives, declining 0.6% for the year to March 2024, this comes off the back of a very strong few years of growth for our region.
Annual consumer spend saw a slight increase of 1.7%, which is lower than the New Zealand average of 2.8%. The challenging times of our businesses and households continue, with high living costs impacting overall discretionary spending.
This dashboard is designed to give you a quick overview of the latest data and insights for our region, against a national context. This dashboard is published prior to the more in depth Manawatū Quarterly Economic Snapshot which offers more detailed insights, trends and commentary from key sectors and will be released in the coming weeks.