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Monthly Economic Indicators

New Zealand Key Economic Data

Quarterly Indicators

Quarterly Indicators
    2006Q3 2006Q4 2007Q1 2007Q2 2007Q3 2007Q4 2008Q1
Gross Domestic Product (GDP)              
Real production GDP qtr % chg [1] 0.4 0.7 1.2 0.9 0.5 1.0 ...
ann ave % chg 1.6 1.5 1.5 2.1 2.7 3.1 ...
Real private consumption qtr % chg [1] 0.9 1.3 2.1 0.5 0.4 0.5 ...
ann ave % chg 3.0 2.5 2.7 3.4 4.0 4.3 ...
Real public consumption qtr % chg [1] 0.9 0.7 0.5 1.2 2.1 0.4 ...
ann ave % chg 4.8 4.7 4.3 4.4 4.4 4.4 ...
Real residential investment qtr % chg [1] 3.8 1.7 -0.1 3.2 1.9 -1.6 ...
ann ave % chg -3.5 -3.0 -2.7 1.6 3.5 4.4 ...
Real non-residential investment qtr % chg [1] 1.6 0.6 4.1 -1.6 0.0 6.1 ...
ann ave % chg 2.1 -1.1 -2.1 0.3 2.1 5.1 ...
Export volumes qtr % chg [1] 3.2 -2.4 2.6 -0.8 -0.1 5.4 ...
ann ave % chg 1.2 1.7 3.1 3.5 2.3 3.6 ...
Import volumes qtr % chg [1] 0.8 1.2 4.2 2.6 0.7 4.3 ...
ann ave % chg -2.4 -2.8 -1.7 1.7 5.4 8.9 ...
Nominal GDP - expenditure basis ann ave % chg 4.2 4.7 5.0 6.4 7.2 7.7 ...
Real GDP per capita ann ave % chg 0.5 0.3 0.3 0.9 1.5 2.1 ...
Real Gross National Disposable Income ann ave % chg -0.1 0.4 1.6 2.9 3.6 5.1 ...
External Trade
Current account balance (annual) NZ$ millions -14031 -14004 -13522 -13682 -14280 -13833 ...
% of GDP -8.8 -8.6 -8.2 -8.1 -8.4 -7.9 ...
Investment income balance (annual) NZ$ millions -11832 -12092 -11863 -11880 -12329 -12485 ...
Merchandise terms of trade qtr % chg -2.2 2.5 1.5 0.4 3.7 2.9 ...
ann % chg -1.3 3.8 4.5 2.3 8.4 8.8 ...
Prices
CPI inflation qtr % chg 0.7 -0.2 0.5 1.0 0.5 1.2 0.7
ann % chg 3.5 2.6 2.5 2.0 1.8 3.2 3.4
Tradable inflation ann % chg 3.0 1.1 0.8 -0.5 -0.3 2.8 3.4
Non-tradable inflation ann % chg 4.0 3.9 4.0 4.1 3.7 3.5 3.5
GDP deflator ann % chg 2.8 2.8 2.9 4.0 3.7 5.3 ...
Consumption deflator ann % chg 3.0 2.6 1.9 1.3 1.3 2.1 ...
Labour Market
Employment (HLFS) qtr % chg [1] -0.3 0.1 1.2 0.6 -0.3 1.1 ...
ann % chg [1] 1.4 1.4 1.7 1.6 1.6 2.5 ...
Unemployment rate % [1] 3.8 3.8 3.7 3.6 3.5 3.4 ...
Participation rate % [1] 68.3 68.1 68.6 68.7 68.3 68.8 ...
LCI salary & wage rates - total (adjusted) [6] qtr % chg 1.0 0.9 0.6 0.6 1.0 1.0 ...
ann % chg 3.2 3.2 3.2 3.1 3.1 3.3 ...
LCI salary & wage rates - total (unadjusted) [6] qtr % chg 1.4 1.3 0.8 1.0 1.7 1.4 ...
ann % chg 5.1 4.9 4.5 4.6 4.8 5.0 ...
QES average hourly earnings - total [6] qtr % chg 1.6 0.8 1.0 0.8 1.3 1.0 ...
ann % chg 5.0 5.0 4.6 4.3 4.0 4.2 ...
Labour productivity [7] ann ave % chg 1.1 0.7 1.0 1.3 1.9 2.6 ...
Confidence Indicators/Surveys
WMM - consumer confidence [3] Index 112 120 118 111 114 110 97
QSBO - general business situation [4] net % -19.1 3.5 -15.3 -36.6 -27.3 -26.4 -64.1
QSBO - own activity outlook [4] net % 10.5 15.0 16.1 8.8 15.4 13.9 -9.7

Monthly Indicators

Monthly Indicators
    2007M 10 2007M 11 2007M12 2008M1 2008M2 2008M3 2008M4
External Sector              
Merchandise trade - exports mth % chg [1] 11.2 -1.4 5.5 -0.2 4 -18.2 ...
ann % chg [1] 24 21.1 24.2 24 30.7 3.6 ...
Merchandise trade - imports mth % chg [1] 9.9 -2.7 2 -3.4 6.1 -3.8 ...
ann % chg [1] 6.2 10.4 11.3 2.4 15.8 7.5 ...
Merchandise trade balance (12 month total) NZ$ million -5883 -5691 -5307 -4795 -4418 -4529 ...
Visitor arrivals number [1] 200170 206170 204370 206090 217260 216650 ...
Visitor departures number [1] 204010 204940 202590 208620 211840 212890 ...
Housing
Dwelling consents - residential mth % chg [1] -5.4 0.9 -4.1 2.7 -6.6 -9.1 ...
ann % chg [1] -16.5 -4.5 -6.2 -5 -18 -26.4 ...
House sales - dwellings mth % chg [1] 12.9 0.4 -7.6 -1.1 -3.3 -30.6 ...
ann % chg [1] -22.5 -22 -32.2 -31.3 -32 -53.3 ...
REINZ - median dwelling price mth % chg -1.3 -0.4 -0.4 -0.6 -0.8 1.2 ...
ann % chg 8 6.8 4.5 4 0.8 1.7 ...
Private Consumption
Core retail sales mth % chg [1] -1.0 1.0 0.3 0.4 0.2 ... ...
ann % chg [1] 3.0 4.4 4.3 4.0 2.0 ... ...
Total retail sales mth % chg [1] -0.4 1.8 0.1 0.3 -0.7 ... ...
ann % chg [1] 4.4 6.9 5.9 5.9 3.3 ... ...
New car registrations mth % chg [1] 5.6 -3.8 -2.9 10.4 -8.9 -12.8 ...
ann % chg 4.7 2.3 1.4 1.7 1.9 -13.2 ...
Electronic card transactions - total retail mth % chg [1] -0.5 1.9 0.0 0.3 0.2 -0.3 ...
ann % chg 7.7 10.0 7.3 8.7 10.7 4.4 ...
Migration
Permanent & long-term arrivals number [1] 6740 6990 6700 6710 7270 7180 ...
Permanent & long-term departures number [1] 6490 6530 6670 6600 7030 6690 ...
Net PLT migration (12 month total) number 7517 6588 5491 4799 4643 4678 ...
Commodity Prices
Brent oil price US$/Barrel 82.51 92.73 91.52 92.09 94.72 103.16 110.03
WTI oil price US$/Barrel 85.93 94.77 91.77 92.98 95.36 105.50 112.34
ANZ NZ commodity price index mth % chg -3.8 0.8 -0.9 -1.8 -2.2 2 ...
ann % chg 21.5 20.9 19 15.9 11.4 11.9 ...
ANZ world commodity price index mth % chg 1.8 0.8 0 -1.4 1.1 2.0 ...
ann % chg 37.8 35.9 30.9 27.4 26.9 26.9 ...
Financial Markets
NZD/USD $ [2] 0.7606 0.7624 0.7686 0.7718 0.7968 0.8027 0.7900
NZD/AUD $ [2] 0.8464 0.8499 0.8811 0.8758 0.8733 0.8669 0.8500
Trade weighted index (TWI) June 1979 = 1002 71.22 70.26 71.58 71.24 72.96 71.58 70.31
Official cash rate (OCR) % 8.25 8.25 8.25 8.25 8.25 8.25 8.25
90 day bank bill rate % [2] 8.68 8.73 8.9 8.75 8.82 8.91 8.87
10 year govt bond rate % [2] 6.37 6.39 6.4 6.28 6.4 6.36 6.48
Confidence Indicators/Surveys
National Bank - business confidence net % -12.9 -19.6 -24.9 -31.8 -43.9 -57.9 -54.8
National Bank - activity outlook net % 20.3 15.7 18.2 13.4 2.4 -6.4 -3.8
One News [5] - consumer confidence net % -2 -6 -10 -13 -16 -25 -34

Abbreviations

qtr % chg
quarterly percent change
mth % chg
monthly percent change
ann % chg
annual percent change
ann ave % chg
annual average percent change

Notes

  • [1] Seasonally adjusted
  • [2] Average (11am)
  • [3] Westpac McDermott Miller
  • [4] Quarterly Survey of Business Opinion
  • [5] One News Colmar Brunton
  • [6] Ordinary time
  • [7] Production GDP divided by HLFS hours worked

Sources: Statistics New Zealand, Reserve Bank of New Zealand, National Bank of New Zealand, NZIER, ANZ, Datastream, Westpac McDermott Miller, One News Colmar Brunton.

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