Wine glut cited in our economic fall (NZ)

The global wine glut has been cited as a major contributor to Gisborne’s slump in economic performance in the latest Berl report for 2011. Berl ranks local authorities, regional councils and cities each year on their overall economic performance — and in the latest report Gisborne ranks worst out of 66 local authorities. Wairoa also rates badly. BDO Gisborne audit partner Daryl Keast says Gisborne has never been a star performer in Berl reports, compared with other regions in New Zealand, reports The Gisborne Herald.