Regional economic confidence in Waikato edges lower

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A net 29 percent of Waikato households expect the region’s economy to strengthen over the coming year, according to the Westpac-McDermott Miller Regional Economic Confidence survey for the June 2019 quarter.  This is down on the net 34 percent posted for the March 2019 quarter.

“Household confidence in the Waikato is the highest of any region in the North Island,” said Westpac chief economist Dominick Stephens. “The local economy remains on a roll, although recent signs of a slowdown might be starting to weigh on confidence.

“Unemployment, which had been tracking lower has now begun to rise, while house price growth has slowed. Meanwhile sentiment among farmers in this region remains low due to concerns about having to comply with environmental regulation and worries about stalling farm prices,” he said.

The survey was conducted over the period June 1-10.

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