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10 February 2012 Hunter Region - Newcastle Presentations  |  Hunter Region Economic Indicators Dec 2011  | 
Watch video presentation (Created by Business Insider)

15 March 2012 Upper Hunter Region - Invitation

Hunter Region Media Release 

Thursday, 9 February 2012

Regional economy mellows as headwinds bear on non-resource sectors

Contact: Simon Deeming

Growth in the Hunter economy has waned further over the last six months with the demand for labour evidently slowing, despite little change in the unemployment rate, according to HVRF Director of Research Simon Deeming. 

“The Reserve Bank cut interest rates in November and December in response to the headwinds facing specific sectors of the economy,” he says.  “We are seeing increasing evidence of the challenges facing retail, construction, tourism and parts of the manufacturing sector across the Hunter.”

The Hunter’s economic prospects in the coming year remain beholden to a volatile international context according to the Hunter Valley Research Foundation’s latest Hunter Region Economic Indicators. 

“The Hunter’s economic prospects can be considered in terms of two scenarios,” he said. “In the absence of a second economic crisis, the Reserve Bank will seek to subtly balance economic activity, by tempering or stimulating the non-resource sectors. In contrast, a second crisis would see strong policy stimulus to the benefit of the domestic-oriented sectors. Fortunately, unlike many western economies, the Reserve Bank and the Federal Government have the capacity to stimulate growth under either scenario.”

Simon will present the full results from the HVRF’s December quarter Hunter Region Economic Indicators at the Foundation’s breakfast tomorrow morning featuring Carsten Pedersen, Director Financial Markets & International, Westpac Institutional Bank.

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