Retail spending up 4.7 per cent across Timaru District
Retail spending in the Timaru District has grown by 4.7 per cent in the past 12 months, with around $567 million pumped into local economy, according to a new report released by Aoraki Development.
The report, prepared by Infometrics, shows retail spending across the district has had a strong uptick in the past two years.
"In 2016 our retail figures for the district were negative 0.5 per cent, and now we've bounced back within two years to be clocking in with growth of 4.7 per cent, which is really encouraging and shows that our economy here is tracking well and people are spending," Aoraki Development chief executive Nigel Davenport said.
"It's interesting to see that in Timaru town, most of the retail spending comes from locals, while in Geraldine, there's a big chunk that comes from visitors, and it shows that despite Geraldine's comparatively small size, it's very important for attracting international visitors to Timaru District."
"Overall these figures give a positive report card for our retail sector and show how important it is with a total of $567m spent, mostly by locals," Davenport said.
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Find out more about the Timaru District economy.