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Last modified: 11 Sep 2023 10:57am

Selwyn’s economy continues to grow and more Selwyn residents are finding work, according to the latest economic figures.

The district’s economy has continued to be among the strongest growth areas in the country, with the third highest growth over the past year to June with GDP up 5.2% compared to a growth of 3.1% in the national economy, according to the latest quarterly report from economic analysts, Infometrics.

Selwyn also had the highest increase in residents in employment up 6.3% - more than twice the national average of 2.6%, and unemployment remains among the lowest in the country at 2.1% compared to the national average of 3.4%.

The rise was driven by the continued strong population growth in the district, Infometrics says. A big jump in the amount of money people are spending in the district was also driven by population growth, it says — with consumers spending 13% more over the year, out ahead of national growth in spending of 12%.

The economy continued to grow despite the rate of new housing being built slowing from its previous record highs, with the number of residential building consents issued falling by 15% in the year to June.

Tourism however, continued its recent growth, with the number of nights tourists stayed in Selwyn going up 63.6% and the amount visitors spent in Selwyn rising by 29.7%.

Read the full June 2023 Quarterly Economic Monitor from Infometrics here.