The latest National Bank regional economy survey shows the Bay of Plenty has good resilience and has bounced back from a decline in economic activity during the first three months of 2009.

According to National Bank statistics, in that quarter the Bay of Plenty's economic activity declined by 3.7 per cent. This was the steepest decline of all the regions, with Wellington the only one to have an increase.
But this has seesawed and Bay of Plenty has experienced a dramatic swing. The National Bank report shows the region's economic activity has increased by 2.4 per cent in the last quarter.
This is the greatest increase of all the regions.
Wellington on the other hand was unable to build on its growth from the first three months of this year and its activity declined by 0.7 per cent.
No region was able to sustain two consecutive quarters of increased economic activity.
In other Bay of Plenty statistics reported by the National Bank:
Unemployment rose to a five year high of 6.5 per cent.
House sales rose 23 per cent and the number of farms sold in the region rose for the first time in four quarters.