Wellington should outrun slow growth
Wellington is expected to lift its economic game this year, after sluggish growth in the year to March 2003.
Monday, March 1st 2004, 10:17AM
by The Landlord
The Wellington economy grew 1.8 per cent in the year to last March, compared with national growth of 4.7 per cent, according to the Greater Wellington regional council.In its regional outlook, the council said "sluggish growth" was probably due to low population growth. Wellington's population grew 1.4 per cent in the period, compared with the national average of 1.8 per cent.
Since March "the region's economic performance had improved", the report said. "More recent economic indicators point to faster growth in the region over 2003-04. Employment growth has run consistently ahead of the national trend and latest employment indicators suggest continuing strong growth over the next few months."
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