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Wednesday, according to the latest Regional Trends survey, eleven regions in New Zealand showed a gain in economic activity in the final quarter of 2009, while two regions recorded a decline in activity.
The nationwide measure of economic activity grew 1.2% in the December quarter, which was the strongest quarterly lift in five years. On a yearly basis, a contraction of 1.3% was recorded compared to a 2% fall in September.
Further, the survey showed that the more urbanized regions registered a combined 0.9% contraction in the calendar year 2009. By comparison, the rest of New Zealand reported a 1.9% fall.
Within the 14 regions, the Bay of Plenty showed the largest economic expansion on a quarterly basis, rebounding 2.5%. Otago, Northland and Gisborne all registered increases in excess of 2%. At the same time, Manawatu-Whanganui and Taranaki recorded a weaker level of economic activity in December, compared with three months earlier.
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