23 Oct 2009

Rural economy not yet out of the mire

9:13 am on 23 October 2009

Farmers and rural servicing firms in Hawke's Bay say the economy may be recovering, but that doesn't mean they're out of the financial mire.

It's now a month since the New Zealand dollar began trading above 73 US cents, on news the recession in this country was over.

The Hawke's Bay A & P Society says the annual show being held this week is a good economic indicator for the province.

President Peter Tod says filling trade space has not been easy this year.

There's been a noticable drop in the number of new car dealers at the show.

Mr Tod says the recession may be over but farmers don't have much excess cash to spend on new machinery.