A quick snapshot reveals that the Bay of Plenty may be set for a resurgence. As Bay of Plenty Business News publisher, Pete Wales, confirms.
As we publish our last issue of the first quarter of 2025, we have noticed a slight upswing in business confidence and the activity that flows from this, as shared across our first three issues of the year.
As expected, the RBNZ recently cut rates by 50 base points. With further cuts forecast for the first half of 2025, we are seeing a sluggish NZ economy beginning to slowly turn the ship around and head in the right direction.
With the kiwifruit (Tauranga/Western Bay), tourism (Rotorua) and agriculture/dairy (Waikato) all leading the charge, a turnaround locally appears likely across the Bay of Plenty and Waikato regions, bringing NZ out of its recessionary setting doldrums.
Such indicators suggest we can expect a return to strength at the start of the new financial year followed by even more growth into the second half of FY25-26.
