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Monthly Economic Indicators

New Zealand Key Economic Data

Quarterly Indicators

Quarterly Indicators
    2006Q4 2007Q1 2007Q2 2007Q3 2007Q4 2008Q1 2008Q2
Gross Domestic Product (GDP)              
Real production GDP qtr % chg [1] 0.6 1.3 0.8 0.5 0.8 -0.3 ...
Real production GDP ann ave % chg 1.6 1.6 2.1 2.7 3.1 3.0 ...
Real private consumption qtr % chg [1] 1.3 1.9 0.4 0.5 0.5 -0.4 ...
Real private consumption ann ave % chg 2.6 2.8 3.4 3.9 4.1 3.3 ...
Real public consumption qtr % chg [1] 0.8 0.7 0.9 1.8 0.2 1.1 ...
Real public consumption ann ave % chg 4.7 4.4 4.5 4.4 4.2 4.2 ...
Real residential investment qtr % chg [1] 1.2 0.7 3.0 1.7 -2.3 -5.4 ...
Real residential investment ann ave % chg -3.2 -2.7 1.6 3.6 4.4 3.7 ...
Real non-residential investment qtr % chg [1] 0.7 3.2 -1.3 0.1 5.1 -1.2 ...
Real non-residential investment ann ave % chg -0.9 -1.6 0.8 2.3 4.7 4.4 ...
Export volumes qtr % chg [1] -2.7 3.1 -1.2 0.0 4.5 -1.8 ...
Export volumes ann ave % chg 1.7 3.1 3.4 2.2 3.4 2.3 ...
Import volumes qtr % chg [1] 1.1 4.2 2.6 0.8 3.8 1.2 ...
Import volumes ann ave % chg -2.8 -1.7 1.7 5.4 8.8 9.7 ...
Nominal GDP - expenditure basis ann ave % chg 4.9 5.2 6.5 7.2 7.4 7.4 ...
Real GDP per capita ann ave % chg 0.4 0.4 0.9 1.5 2.0 1.9 ...
Real Gross National Disposable Income ann ave % chg 0.5 1.7 2.9 3.6 5.0 5.3 ...
External Trade
Current account balance (annual) NZ$ millions -14004 -13522 -13682 -14280 -13837 -13787 ...
Current account balance (annual) % of GDP -8.6 -8.2 -8.1 -8.3 -7.9 -7.8 ...
Investment income balance (annual) NZ$ millions -12092 -11863 -11880 -12329 -12437 -13123 ...
Merchandise terms of trade qtr % chg 2.5 1.5 0.4 3.7 2.7 4.1 ...
Merchandise terms of trade ann % chg 3.8 4.5 2.3 8.4 8.5 11.3 ...
Prices
CPI inflation qtr % chg -0.2 0.5 1.0 0.5 1.2 0.7 1.6
CPI inflation ann % chg 2.6 2.5 2.0 1.8 3.2 3.4 4.0
Tradable inflation ann % chg 1.1 0.8 -0.5 -0.3 2.8 3.4 4.8
Non-tradable inflation ann % chg 3.9 4.0 4.1 3.7 3.5 3.5 3.4
GDP deflator ann % chg 2.9 3.1 4.2 3.9 5.6 5.8 ...
Consumption deflator ann % chg 2.7 2.0 1.5 1.2 2.0 2.5 ...
Labour Market
Employment (HLFS) qtr % chg [1] -0.1 1.4 0.3 -0.1 0.9 -1.3 1.3
Employment (HLFS) ann % chg [1] 1.4 1.8 1.5 1.5 2.5 -0.2 0.7
Unemployment rate % [1] 3.8 3.7 3.6 3.5 3.4 3.7 3.9
Participation rate % [1] 68.0 68.7 68.7 68.3 68.6 67.7 68.6
LCI salary & wage rates - total (adjusted) [6] qtr % chg 0.9 0.6 0.6 1.0 1.0 0.8 0.7
LCI salary & wage rates - total (adjusted) ann % chg 3.2 3.2 3.1 3.1 3.3 3.4 3.5
LCI salary & wage rates - total (unadjusted) [6] qtr % chg 1.3 0.8 1.0 1.7 1.4 1.2 1.1
LCI salary & wage rates - total (unadjusted ann % chg 4.9 4.5 4.6 4.8 5.0 5.4 5.5
QES average hourly earnings - total [6] qtr % chg 0.8 1.0 0.8 1.3 1.0 1.5 1.4
QES average hourly earnings - total ann % chg 5.0 4.6 4.3 4.0 4.2 4.6 5.3
Labour productivity [7] ann ave % chg 0.8 1.0 1.4 1.9 2.6 3.1 ...
Confidence Indicators/Surveys
WMM - consumer confidence [3] Index 120 118 111 114 110 97 82
QSBO - general business situation [4] net % 3.5 -15.3 -36.6 -27.3 -26.4 -64.1 -63.7
QSBO - own activity outlook [4] net % 15.0 16.1 8.8 15.4 13.9 -9.7 -22.9

Monthly Indicators

Monthly Indicators
    2008M2 2008M3 2008M4 2008M5 2008M6 2008M7 2008M8
External Sector              
Merchandise trade - exports mth % chg [1] 4.6 -18.7 14.8 -10.9 16.8 -5.0 ...
Merchandise trade - exports ann % chg [1] 30.4 3.3 20.6 11.7 32.2 29.3 ...
Merchandise trade - imports mth % chg [1] 6.3 -3.9 10.8 -2.8 0.6 2.0 ...
Merchandise trade - imports ann % chg [1] 16.0 7.2 21.5 16.7 17.2 21.3 ...
Merchandise trade balance (12 month total) NZ$ million -4422 -4526 -4604 -4781 -4469 -4443 ...
Visitor arrivals number [1] 217020 215400 189840 207130 204280 208600 ...
Visitor departures number [1] 211180 211200 201870 203400 208900 204200 ...
Housing
Dwelling consents - residential mth % chg [1] -6.4 -14.3 82.7 -41.8 -18.8 4.8 ...
Dwelling consents - residential ann % chg [1] -17.7 -27.5 31.1 -27.0 -47.0 -35.1 ...
House sales - dwellings mth % chg [1] -1.1 -31.7 13.1 -17.0 14.3 11.6 ...
House sales - dwellings ann % chg [1] -31.9 -53.5 -44.9 -53.2 -42.5 -32.3 ...
REINZ - median dwelling price mth % chg -0.8 1.2 -1.1 0.2 -0.9 0.5 ...
REINZ - median dwelling price ann % chg 0.8 1.6 -1.2 -1.3 -2.2 -1.4 ...
Private Consumption
Core retail sales mth % chg [1] 0.1 -0.4 -0.2 0.8 0.0 ... ...
Core retail sales ann % chg [1] 2.0 0.7 1.4 1.7 2.1 ... ...
Total retail sales mth % chg [1] -0.7 -1.1 1.2 -1.1 0.9 ... ...
Total retail sales ann % chg [1] 3.3 0.8 3.2 1.2 2.4 ... ...
New car registrations mth % chg [1] -9.4 -12.8 9.0 -11.7 1.4 -7.5 ...
New car registrations ann % chg 1.9 -13.2 -1.1 -20.6 -15.9 -27.1 ...
Electronic card transactions - total retail mth % chg [1] 0.2 0.1 -0.3 1.3 -0.3 0.8 ...
Electronic card transactions - total retail ann % chg 10.7 4.4 6.0 8.7 2.6 7.3 ...
Migration
Permanent & long-term arrivals number [1] 7300 7230 7290 7840 7550 7640 ...
Permanent & long-term departures number [1] 7040 6690 6810 6880 7070 6790 ...
Net PLT migration (12 month total) number 4643 4678 4666 4931 4732 5201 ...
Commodity Prices
Brent oil price US$/Barrel 94.72 103.16 110.03 123.86 132.76 133.59 113.80
WTI oil price US$/Barrel 95.36 105.50 112.34 125.67 133.93 133.96 116.70
ANZ NZ commodity price index mth % chg -2.2 2.1 1.1 2.5 2.1 2.8 2.0
ANZ NZ commodity price index ann % chg 11.4 12.0 13.4 13.2 12.5 14.4 6.1
ANZ world commodity price index mth % chg 1.1 2.0 -0.3 1.0 -0.1 1.8 -3.3
ANZ world commodity price index ann % chg 26.9 26.9 20.7 18.7 11.8 8.7 3.6
Financial Markets
NZD/USD $ [2] 0.7968 0.8027 0.7900 0.7769 0.7607 0.7553 0.7102
NZD/AUD $ [2] 0.8733 0.8669 0.8500 0.8188 0.7997 0.7848 0.8031
Trade weighted index (TWI) June 1979 = 1002 72.96 71.58 70.31 69.32 68.11 67.18 65.52
Official cash rate (OCR) % 8.25 8.25 8.25 8.25 8.25 8.00 8.00
90 day bank bill rate % [2] 8.82 8.91 8.87 8.71 8.68 8.46 8.2
10 year govt bond rate % [2] 6.4 6.36 6.48 6.43 6.42 6.18 6.13
Confidence Indicators/Surveys
National Bank - business confidence net % -43.9 -57.9 -54.8 -49.7 -38.7 -43.2 -20.5
National Bank - activity outlook net % 2.4 -6.4 -3.8 -4.4 -4.0 -8.2 4.7
One News [5] - consumer confidence net % -16 -25 -34 -33 -25 -27 ...

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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