Nelson-Malborough’s improved retail

Nelson JunctionAccording to an ANZ regional trends report, activity surged by 2.8 per cent in the Nelson-Marlborough region in the March 2015 quarter, the highest recorded of any region despite an otherwise “lumpy” year.

Annual average growth was a more subdued 2.1 per cent, ranking Nelson-Marlborough’s growth the fourth lowest of the regions.

“The bounce back in March is welcome, but the region has experienced lumpy and stop-start growth over the year,” said the report.

ANZ chief economist Cameron Bagrie said Nelson-Marlborough and the West Coast are underperforming in year-on-year growth.

“Nelson is buoyant but like a lot of other regions it’s two steps forward and one back because some sectors are doing well but there are some economic challenges. Retail is subdued and the rural sector is battered by the high New Zealand dollar, but generally speaking it is moving forward at a modest clip,” he said.

Retail sales fell 0.6 per cent in March compared with the same time last year, with the volume of electronic transactions data falling by 3.7 per cent. In spite of the quarterly fall, retail sales were 7.9 per cent ahead of where they were last year.

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