Canterbury holds its place

houses 409Economic activity held steady throughout November, with a figure of 1.8 on the ASB Cantometer Index.

This was the same index as in October, and just below the record high reported in September.

The retail trade indicator was 2.4 in November and October.

The consumer confidence index was -0.1 in November and October.

The consumer spending index was 1.2 in November and October.

Construction activity is easing slightly, coming off a high level of activity, Nick Tuffley, ASB chief economist, said.

The earthquake rebuild is encouraging a lot of workers to move into the Canterbury region, with net migration rising strongly over the past year.

This is leading to higher spending on household items such as cars.

Tuffley said that the economic outlook remains positive in Canterbury, with construction still activity still expected to remain a key support of economic activity over the coming years.

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