Ag may 29 2017

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Monday, May 29, 2017

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Glitz and glamour at ball Among those enjoying their calendar highlight of the school year on Friday night were (front from left) Maddie Reed, Hannah Kirwan, Megan Harrison, and (back) Grace Wills.

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Dairy, beef, lamb economy drivers BY SUE NEWMAN

trict’s GDP was $1843 million. When it comes to unemployment, the Ashburton District continues to be a national leader with the rate sitting at 2.1 per cent. This is marginally up on the December quarter and economists believe there could be another rise in numbers for the next quarter once outof-work Fairton freezing workers sign up for jobseeker support. Nationally at March 31 unemployment was sitting at 5 per cent. The biggest loser for the period was residential housing with consent numbers down 6.8 per cent. A total of 53 consents were issued for the March quarter, down from 59 for the same quarter last year. On an annual basis residential con-

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Economists are predicting the Ashburton District’s dairy payout will exceed $900 million for the 2016-2017 season. The Infometrics quarterly economic monitor report bases the payout figure on an assumption that production levels from the previous season are maintained. If this occurs it will be $331 million higher than the last season. The slowdown in the dairy industry that impacted on the district’s economy in the second half of last year is, however still being felt, economists say, which means the district’s GDP has stagnated. Annual change is put at negative 0.1 per cent. For the year to March 31 the dis-

sent numbers dropped by 6.8 per cent on an annual basis while the number of consents in New Zealand rose by 10 per cent. The upward movement in house prices in the district was much slower than the national rise – 1.9 per cent compared to 12 per cent. When it came to the number of houses sold, the district outperformed New Zealand, up 4.8 per cent compared to a decrease of 4.5 per cent nationally. The district’s average house price is now $343,543. Looking ahead, economists say the improved outlook for dairy payout along with encouraging recent strength in beef and lamb prices that are likely to be sustained bode well for Ashburton’s economic in put in the year ahead.

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Ag may 29 2017 by Ashburton Guardian - Issuu