The Rangitīkei District economy is estimated to contract by 3.4% (↓$21.6m) over 2020 as a direct result of level 3 and level 4 restrictions imposed in response to COVID-19, compared to the national average of 3.7%.
Overall, for levels 1 to 4, the district is estimated to contract by 6.1% over the remainder of 2020, compared to 6.4% across New Zealand.
These estimates are from the July 2020 Rangitīkei District Economic Impact Assessment (EIA), compiled by economists at Palmerston North City Council and Manawatū District Council. The purpose of this EIA is to provide a baseline for understanding the direct impacts of COVID-19 restrictions on economic activity at the territorial authority and regional scale.
District impacts have been estimated by applying the industry level and broad economic impacts estimated within the RBNZ ‘Economic impacts of COVID-19 containment measures’ publication to local and regional economic structure.
Please note that the estimates are based on the RBNZ’s forecast at the time of publication (6 May 2020), which included assumptions of border restrictions and impacts on economic activity in alert levels 1 and 2.
Given that actual economic impacts may differ from estimated economic impacts, a range of metrics are included in the dashboard section of this website. The dashboards report on a variety of metrics and contains data collected on a weekly, monthly or quarterly basis. To access a more up-to-date understanding of the impacts of COVID-19 restrictions on regional and sub-regional economic performance, readers are referred to these data.
It should also be noted that GDP is only one measure of impact. The initial focus on GDP recognises the need to get quick, early reporting on potential impacts completed using a commonly used metric and a recognised methodology. A wider approach to understanding impacts may be used to supplement GDP data in the future.
The dashboard below provides some key data and commentary around the impacts of COVID-19 on the local economy.
While data sets are updated regularly to ensure the information provided is as up-to-date as possible, please be aware that the figures do not represent a real-time snapshot.
Electronic card spending
(% change from same week in 2019)
Source: Marketview
- Rangitīkei District
- New Zealand
Weekly retail electronic card spending showed a weekly increase between 0% and 5% over the month December 2020 and into 2021 compared to the same weeks in 2019.
Number of jobseeker support recipients
Source: Ministry of Social Development
- Rangitīkei District
The number of Jobseeker Support recipients in the Rangitikei District increased by 41%, from 453 in April 2020 to 641 in November 2020. In contrast, the number of Jobseeker Support recipients in New Zealand increased 56% over the same period
Trade Me job advertisement index
Index: Feb-20=100 (four-week rolling average)
Source: Sense Partners analysis of Trade Me data
- Rangitīkei District
- Manawatū-Whanganui Region
- New Zealand
The change in the number of job advertisements on Trade Me shows larger variations over time for the Rangitikei district, returning to just above the same level as the rest of the region at the end of November.
Value of building consents issued
(Years ended October, $ million)
Source: Statistics New Zealand
- Rangitīkei District
There was a decrease in residential consents from $18 million in the year end September 2020, up from $22 million for the year end September 2019. While, non-residential consents slightly decreased to $5 million down from $6 million over the same period.
Summary Table
Population
Source: Statistics New Zealand
15,750
GDP ($ million)
Source: Infometrics
$674
Workforce (no.)
Source: Infometrics
6,542
Median earnings
Source: Statistics New Zealand
$46,280
Annual salaries and wages ($ million)
$247
Average house price
Source: QV
$285,676
Average weekly rent
Source: MBIE