Taranaki, New Zealand, sees economic downturn with GDP and spending drops, but e-commerce and agriculture show promise.

Taranaki, New Zealand, faces economic challenges with a 2.3% decline in GDP and a 1.0% drop in consumer spending, but shows signs of recovery. Unemployment is below the national average at 4.0%, and e-commerce leads the country with a 17.6% growth rate. Housing values have increased by 2.8%, and agricultural sectors like beef and dairy show potential for growth. Business leaders emphasize innovation and adaptability for the region's economic future.