The Treasury has released the Regional Activity Indices (RAIs) to help shed light on how regional economies are performing, and how they react to region-specific shocks, in near real-time.
The RAIs are an experimental set of indicators produced by the Treasury, Stats NZ and the Reserve Bank of New Zealand. Each RAI is a composite index that summarises several monthly indicators of economic activity in that region. As of February 2021, the Regional Activity Index for each region is based on six indicators that span consumer spending, jobseeker numbers, online job vacancies, traffic volumes (light and heavy vehicles), and electricity demand.
The RAIs will be updated 2-3 weeks after the close of each month and will be published as a monthly special topic within the Treasury's Weekly Economic Update.
The data for the RAIs, as well as most of the input data, is available for viewing and download on the Stats NZ COVID-19 portal. Further documentation on how to use the indices, and how they are constructed is also available from the RAI page on the Treasury website.
Special Topic: Regional Activity Indices is available here: https://www.treasury.govt.nz/publications/weu/weekly-economic-update-26-february-2021