The ANZ quarterly regional survey found 12 of the 14 regions recorded an increase in economic activity during the quarter to December, led by Bay of Plenty, up 2.6%, Hawkes Bay, up 12.8%, and Wellington, Waikato and Auckland, all up 1.2% for the quarter.
On growth levels from a year ago, Otago was sixth at 4.1%, with Waikato, Southland, Canterbury and the Bay of Plenty up in a range from 4.2% to 4.7%, with Northland top, on 5.1% growth.
The ANZ ranking reflects an ASB four star rating for Otago last week for regional economic activity, on a par with Northland and the Bay of Plenty, and second only to Auckland and Canterbury's five star ratings.
ANZ chief economist Cameron Bagrie said that business sentiment across Otago remained higher than in almost all other regions, although overall economic activity posted only a modest gain in the December quarter, rising just 0.3% on the previous quarter, after increasing 2.2% in the September quarter.
''Otago's year on year economic growth [up 4.1%] slipped to the sixth highest across the regions after being in the top three of all regions for the past 12 months,'' Mr Bagrie said.
The ANZ ''truckometer'' survey recorded Otago had the largest quarterly increase of any region, at 2.6%, and was now 4.6% higher than a year ago.
''On the farm, early season milk supply was up on the corresponding time last year, despite drier farming conditions. There have been high lambing survival rates, with store prices for beef and lamb looking good,'' Mr Bagrie said.
Otago's unemployment rate edged up to 4.6%, but was the third lowest across the regions, while employment rose 3.9% in the December quarter, and was 4.7% higher than a year ago.
Mr Bagrie said retail activity for Otago had been variable of late, but both the volume and value of electronic transactions picked up in the last three month, lifting 3.3% in the December quarter, which was the third largest increase of all regions.
