Perverse Midas touch

Labour is trying to pretend its rediscovered the regions and has been showing the love by talking them down.

Once more the facts don’t support their rhetoric:

New Zealand’s economic recovery continues to be led by the regions, the latest ANZ Regional Trends report released today shows.

The report highlights that 12 out of 14 regions recorded a rise in economic activity in the September quarter and year-on year this was the strongest rate of increase since December 2004.

According to ANZ, the North Island, led by Taranaki, expanded 4 per cent in the year to September – a nine year high – while the South Island’s annual increase was higher at 4.6 per cent. Canterbury again recorded the strongest annual average rate of economic growth, increasing 6.2 per cent in the 12 months to September.

“ANZ’s report follows other recent positive economic indicators with business confidence at its highest level since 1994, the manufacturing sector in expansion for the last 11 months, and the net inflow of migrants in September being strongest since July 2003.

“The latest Regional Trends report makes a nonsense of the Opposition’s claims that New Zealand’s regions and towns are being ‘gutted’. The reality is it’s our regions that are leading New Zealand out of the Global Financial Crisis.

“This data will embarrass the Labour Party and comes on the back of other recent gaffes such as the “manufacturing crisis’ and the bizarre claim of a regional exodus the day before the Census results came out. Labour leader David Cunliffe was left red-faced when official statistics showed all but one region grew in size from 2006 to 2013 and he should be red-faced again.

“If it wants to Labour can keep talking down our regions and the performance of our economy. But only the National Government’s comprehensive Business Growth Agenda is creating jobs and lifting business confidence and growth in our regions and right across New Zealand.”

The report on the Business Growth Agenda is here.
The ANZ Regional Trends report shows that good economic news is translating into jobs:

Employment posted its strongest increase in 6½ years, led by a large lift in Otago.
The unemployment rate improved in all regions from the central North Island and

Labour tried to manufacture a manufacturing crisis and manufacturing has improved.

It’s been spreading gloom about the regions when they’re doing well.

It’s a bit like a perverse Midas touch – whatever it says is bad is really as good as gold.

#gigatownoamaru is going for gold in its quest to be the southern hemisphere’s first giagtown.

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