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Monthly Economic Indicators

New Zealand Key Economic Data

Quarterly Indicators

Quarterly Indicators
    2009Q4 2010Q1 2010Q2 2010Q3 2010Q4 2011Q1 2011Q2

Gross Domestic Product (GDP)

Real production GDP qtr % chg[1] 0.9 0.6 0.2 -0.1 0.5 0.8 ...
ann ave % chg -2.0 -0.7 0.5 1.4 1.7 1.5 ...
Real private consumption qtr % chg[1] 1.0 0.5 0.4 0.4 0.3 0.4 ...
ann ave % chg -0.7 0.4 1.4 2.0 2.2 1.9 ...
Real public consumption qtr % chg[1] 0.7 1.5 0.6 0.0 1.4 1.2 ...
ann ave % chg 0.6 0.2 1.1 1.7 2.7 3.1 ...
Real residential investment qtr % chg[1] 6.2 -1.6 11.0 -6.9 -7.0 -2.1 ...
ann ave % chg -18.1 -13.0 -4.3 3.5 2.8 2.3 ...
Real non-residential investment qtr % chg[1] -1.1 0.3 4.2 0.1 8.2 -1.0 ...
ann ave % chg -8.1 -8.3 -7.1 -3.8 2.1 7.0 ...
Export volumes qtr % chg[1] -0.6 1.4 0.3 -0.9 2.0 0.8 ...
ann ave % chg 1.7 4.6 4.7 3.7 3.0 2.0 ...
Import volumes qtr % chg[1] 4.5 2.8 -0.2 3.9 6.4 -2.4 ...
ann ave % chg -14.6 -9.4 -1.8 5.6 10.1 10.4 ...
Nominal GDP - expenditure basis ann ave % chg 0.6 1.1 2.0 3.0 4.8 5.4 ...
Real GDP per capita ann ave % chg -3.1 -1.8 -0.7 0.2 0.4 0.4 ...
Real Gross National Disposable Income ann ave % chg -1.5 0.5 0.9 0.4 2.2 1.9 ...

External Trade

Current account balance (annual) NZ$ millions -5204 -4458 -5707 -7749 -8044 -8300 ...
% of GDP -2.8 -2.4 -3.0 -4.1 -4.1 -4.2 ...
Investment income balance (annual) NZ$ millions -7930 -7627 -9026 -10692 -10683 -10666 ...
Merchandise terms of trade qtr % chg 5.8 6.1 2.0 3.0 0.8 0.8 2.3
ann % chg -8.2 0.1 12.7 17.9 12.3 6.7 7.0

Prices

CPI inflation qtr % chg -0.2 0.4 0.2 1.1 2.3 0.8 1.0
ann % chg 2.0 2.0 1.7 1.5 4.0 4.5 5.3
Tradable inflation ann % chg 1.5 2.0 1.0 0.3 3.3 3.7 5.5
Non-tradable inflation ann % chg 2.3 2.1 2.2 2.5 4.6 5.2 5.2
GDP deflator ann % chg -1.5 -0.1 1.8 2.8 5.7 4.3 ...
Consumption deflator ann % chg 1.2 0.8 0.5 0.8 2.7 3.1 ...

Labour Market

Employment (HLFS) qtr % chg[1] 0.2 0.7 -0.1 1.0 -0.3 1.3 0.0
ann % chg[1] -2.4 -0.1 0.0 1.8 1.3 1.8 2.0
Unemployment rate %[1] 7.0 6.1 6.9 6.4 6.7 6.5 6.5
Participation rate %[1] 68.2 68.0 68.1 68.2 68.0 68.6 68.4
LCI salary & wage rates - total (adjusted)[5] qtr % chg 0.4 0.3 0.4 0.5 0.5 0.4 0.5
ann % chg 1.8 1.5 1.6 1.6 1.7 1.8 1.9
QES average hourly earnings - total[5] qtr % chg -0.2 -0.4 0.7 1.0 0.5 0.4 1.1
ann % chg 2.8 1.0 1.0 1.1 1.8 2.6 3.0
Labour productivity[6] ann ave % chg 0.1 2.1 2.0 1.3 0.2 -0.5 ...

Retail Sales

Core retail sales volume qtr % chg[1] 0.6 0.2 0.6 -0.1 -0.1 1.0 1.0
ann % chg 2.2 3.0 2.6 1.5 0.3 1.4 1.9
Total retail sales volume qtr % chg[1] 1.1 0.4 0.5 -0.4 -0.5 1.1 0.9
ann % chg 0.4 3.2 3.4 1.9 -0.1 0.8 1.1

Confidence Indicators/Surveys

               
WMM - consumer confidence[3] Index 117 115 119 114 108 98 112
QSBO - general business situation[4] net % 30.7 21.9 17.5 6.4 8.1 -26.8 26.6
QSBO - own activity outlook[4] net % 10.8 14.5 11.3 9.5 11.4 -1.6 18.5

Monthly Indicators

Monthly Indicators
    2011M 2 2011M 3 2011M 4 2011M 5 2011M 6 2011M 7 2011M 8

External Sector

Merchandise trade - exports mth % chg[1] 4.3 0.3 7.7 -7.8 -0.6 -1.5 ...
ann % chg[1] 16.4 13.2 18.4 10.2 3.8 4.5 ...
Merchandise trade - imports mth % chg[1] 6.6 -1.6 -6.6 13.0 -8.4 -7.9 ...
ann % chg[1] 22.5 15.7 7.6 18.8 4.7 -4.0 ...
Merchandise trade balance (12 month total) NZ$ million 765 741 1238 1022 999 1314 ...
Visitor arrivals number[1] 208300 191810 206830 205970 196890 200890 ...
Visitor departures number[1] 211770 200800 201460 215520 200080 207460 ...

Housing

Dwelling consents - residential mth % chg[1] -9.7 2.6 -1.1 3.1 -1.0 13.0 ...
ann % chg[1] -28.9 -26.0 -32.3 -21.9 -25.4 -15.7 ...
House sales - dwellings mth % chg[1] 2.5 4.9 0.7 10.0 -0.8 -2.9 ...
ann % chg[1] -10.0 -5.0 -5.2 10.8 13.9 11.3 ...
REINZ - house price index mth % chg 2.3 0.5 1.1 -1.8 1.3 -0.6 ...
ann % chg -0.7 -1.8 -0.4 -0.7 0.0 0.5 ...

Private Consumption

Electronic card transactions - total retail mth % chg[1] -0.2 1.4 1.5 -0.7 1.1 0.4 ...
ann % chg 6.2 6.6 10.0 6.8 9.0 8.0 ...
New car registrations mth % chg[1] -1.4 -0.4 -5.6 3.3 -2.3 -1.9 ...
ann % chg 2.8 -1.0 -10.5 -3.7 -9.5 -6.0 ...

Migration

Permanent & long-term arrivals number[1] 6930 7070 7110 6940 6900 7360 ...
Permanent & long-term departures number[1] 6490 7600 7230 7260 7190 7580 ...
Net PLT migration (12 month total) number 8249 6554 5508 4625 3867 2867 ...

Commodity Prices

Brent oil price US$/Barrel 104.24 114.92 123.33 114.93 114.37 117.48 110.35
WTI oil price US$/Barrel 89.41 102.94 110.15 101.30 96.29 97.08 86.33
ANZ NZ commodity price index mth % chg 2.9 8.1 -3.9 -0.7 -3.3 -3.6 -0.1
ann % chg 10.1 18.4 9.8 7.6 4.9 4.7 5.9
ANZ world commodity price index mth % chg 2.7 4.7 1.6 0.4 -1.2 -0.1 -1.3
ann % chg 20.3 23.5 19.8 19.6 20.6 22.3 22.1

Financial Markets

NZD/USD $[2] 0.7623 0.7408 0.7859 0.7959 0.8150 0.8455 0.8384
NZD/AUD $[2] 0.7565 0.7333 0.7450 0.7447 0.7686 0.7852 0.7978
Trade weighted index (TWI) June 1979 = 100[2] 67.80 65.20 68.20 68.70 70.30 72.70 72.10
Official cash rate (OCR) % 3.00 2.50 2.50 2.50 2.50 2.50 2.50
90 day bank bill rate %[2] 3.13 2.69 2.65 2.66 2.65 2.71 2.90
10 year govt bond rate %[2] 5.56 5.58 5.70 5.23 5.04 5.07 4.55

Confidence Indicators/Surveys

National Bank - business confidence net % 34.5 -8.7 14.2 38.3 46.5 47.6 34.4
National Bank - activity outlook net % 36.6 14.7 29.5 39.7 38.7 43.7 43.3
ANZ-Roy Morgan - consumer confidence net % 108.1 101.4 101.4 103.3 112.5 109.4 113.3

 

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] Ordinary time
  • [6] Production GDP divided by HLFS hours worked

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

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