25 Sep 2012

Canterbury tops regional confidence survey

8:44 am on 25 September 2012

Cantabrians are the most optimistic about their local economy as the rebuilding of the region gets underway.

A Westpac McDermott Miller Regional Confidence survey shows households' confidence in their economy increased in seven out of 11 regions in the three months to September.

Economic confidence increased across most of the North Island but fell in the South Island, except in Canterbury where it rose 11%.

Confidence in rural exporting regions such as Waikato picked up, bolstered by higher global prices for export commodities such as dairy and oil.

Southland had the biggest fall in the survey, a 35% drop in confidence.

Last month one of the region's biggest employers, the Tiwai Point smelter in Bluff, announced up to 100 jobs would be going over the next few years.