The Treasury

Global Navigation

Personal tools

Treasury
Publication

Monthly Economic Indicators

New Zealand Key Economic Data

31 August 2012

Quarterly Indicators

Quarterly Indicators
    2010Q4 2011Q1 2011Q2 2011Q3 2011Q4 2012Q1 2012Q2

Gross Domestic Product (GDP)









Real production GDP qtr % chg[1] 0.0 0.6 0.4 0.4 0.4 1.1 ...

ann ave % chg 1.8 1.7 1.3 1.2 1.4 1.7 ...
Real private consumption qtr % chg[1] -0.4 0.2 0.9 1.5 0.1 0.1 ...

ann ave % chg 2.3 1.6 0.8 1.0 1.5 2.0 ...
Real public consumption qtr % chg[1] 0.6 0.1 0.1 0.5 -0.7 0.5 ...

ann ave % chg 0.6 0.3 0.0 0.3 0.2 0.3 ...
Real residential investment qtr % chg[1] -6.5 -2.2 -8.4 1.0 4.2 -0.5 ...

ann ave % chg 3.8 3.8 -4.9 -11.1 -11.7 -11.9 ...
Real non-residential investment qtr % chg[1] 4.8 1.4 -2.7 -0.7 0.7 2.1 ...

ann ave % chg 1.7 6.9 10.6 10.0 5.8 2.4 ...
Export volumes qtr % chg[1] -0.5 1.5 -0.5 0.7 2.9 -1.7 ...

ann ave % chg 3.2 2.1 1.3 1.2 2.0 1.9 ...
Import volumes qtr % chg[1] 7.2 -2.8 2.0 2.8 -2.2 4.1 ...

ann ave % chg 10.6 11.1 11.0 10.3 6.4 6.0 ...
Nominal GDP - expenditure basis ann ave % chg 5.0 4.8 4.9 4.6 3.4 3.1 ...
Real GDP per capita ann ave % chg 0.6 0.5 0.2 0.1 0.4 0.8 ...
Real Gross National Disposable Income ann ave % chg 2.9 2.5 2.9 3.0 2.1 1.7 ...

External Trade









Current account balance (annual) NZ$ millions -6,787 -7,196 -7,396 -8,827 -8,338 -9,738 ...

% of GDP -3.5 -3.7 -3.7 -4.4 -4.2 -4.8 ...
Investment income balance (annual) NZ$ millions -9,538 -9,649 -9,501 -10,363 -10,405 -10,633 ...
Merchandise terms of trade qtr % chg 0.8 0.8 2.4 -0.6 -1.5 -2.3 ...

ann % chg 12.3 6.7 7.1 3.4 1.0 -2.1 ...

Prices









CPI inflation qtr % chg 2.3 0.8 1.0 0.4 -0.3 0.5 0.3

ann % chg 4.0 4.5 5.3 4.6 1.8 1.6 1.0
Tradable inflation ann % chg 3.3 3.7 5.5 4.6 1.1 0.3 -1.1
Non-tradable inflation ann % chg 4.6 5.2 5.2 4.5 2.5 2.5 2.4
GDP deflator ann % chg 7.0 4.3 4.5 3.1 0.6 0.5 ...
Consumption deflator ann % chg 3.3 3.6 4.6 3.7 1.7 1.4 ...

Labour Market









Employment (HLFS) qtr % chg[1] -0.2 1.1 0.2 0.1 0.2 0.4 -0.1

ann % chg[1] 1.3 1.7 2.0 1.1 1.6 0.9 0.6
Unemployment rate %[1] 6.7 6.6 6.5 6.6 6.4 6.7 6.8
Participation rate %[1] 68.1 68.5 68.4 68.4 68.2 68.7 68.4
LCI salary & wage rates - total (adjusted)[5] qtr % chg 0.5 0.4 0.5 0.6 0.6 0.4 0.5

ann % chg 1.7 1.8 1.9 2.0 2.0 2.0 2.0
QES average hourly earnings - total[5] qtr % chg 0.5 0.4 1.1 1.2 0.1 1.4 0.1

ann % chg 1.8 2.6 3.0 3.2 2.8 3.8 2.9
Labour productivity[6] ann ave % chg 0.3 -0.3 -0.7 -0.8 -0.1 0.5 ...

Retail Sales









Core retail sales volume qtr % chg[1] -0.3 1.5 0.9 2.6 2.2 -1.4 0.9

ann % chg 0.3 1.4 1.9 4.5 7.3 4.3 4.3
Total retail sales volume qtr % chg[1] -0.6 1.5 0.8 2.4 1.7 -0.6 1.3

ann % chg -0.1 0.7 1.1 3.9 6.4 4.2 4.8

Confidence Indicators/Surveys

               
WMM - consumer confidence[3] Index 108 98 112 112 101 102 100
QSBO - general business situation[4] net % 8.1 -26.8 26.6 24.6 0.1 13.0 -4.1
QSBO - own activity outlook[4] net % 11.4 -1.6 18.4 30.0 9.9 16.9 8.1

Monthly Indicators

Monthly Indicators
    2012M02 2012M03 2012M04 2012M05 2012M06 2012M07 2012M08

External Sector









Merchandise trade - exports mth % chg[1] -12.0 8.1 -3.4 2.0 2.0 -1.5 ...

ann % chg[1] -6.3 -8.9 -17.4 -4.1 5.6 8.0 ...
Merchandise trade - imports mth % chg[1] -10.2 2.1 0.1 -1.6 12.9 -0.4 ...

ann % chg[1] -7.3 -0.4 0.1 2.7 3.6 10.6 ...
Merchandise trade balance (12 month total) NZ$ million 663 267 -554 -851 -765 -853 ...
Visitor arrivals number[1] 203,370 210,610 213,310 211,260 216,210 208,870 ...
Visitor departures number[1] 214,770 209,050 219,070 207,610 221,780 218,750 ...

Housing









Dwelling consents - residential mth % chg[1] -6.4 19.0 -7.7 -7.1 5.9 2.0 ...

ann % chg[1] 23.7 43.4 32.7 20.5 28.3 26.3 ...
House sales - dwellings mth % chg[1] 7.5 -3.7 -7.5 14.1 -3.9 0.0 ...

ann % chg[1] 37.0 25.3 13.8 24.4 17.3 19.9 ...
REINZ - house price index mth % chg 0.8 1.9 -0.3 1.7 0.3 -0.7 ...

ann % chg 2.7 4.2 2.7 6.4 5.3 5.2 ...

Private Consumption









Electronic card transactions - total retail mth % chg[1] -0.7 0.4 1.0 0.9 0.2 -0.6 ...

ann % chg 8.2 5.6 1.2 6.1 5.5 1.1 ...
New car registrations mth % chg[1] -1.9 -3.0 3.6 3.7 -0.7 -0.8 ...

ann % chg 2.3 -1.0 8.6 10.3 11.7 10.8 ...

Migration









Permanent & long-term arrivals number[1] 7,230 7,430 6,410 7,030 7,770 6,640 ...
Permanent & long-term departures number[1] 7,590 7,300 7,250 6,910 7,250 7,300 ...
Net PLT migration (12 month total) number -4,068 -3,383 -4,006 -3,653 -3,191 -3,799 ...

Commodity Prices









Brent oil price US$/Barrel 119.43 125.38 120.08 110.24 95.29 102.79 113.37
WTI oil price US$/Barrel 102.25 106.19 103.33 94.7 82.41 87.93 94.00
ANZ NZ commodity price index mth % chg -4.1 -0.2 -4.0 0.9 -3.4 -3.3 ...

ann % chg -11.1 -17.9 -17.6 -15.7 -15.9 -15.2 ...
ANZ world commodity price index mth % chg -0.1 -1.7 -4.5 -4.4 -2.4 -0.5 ...

ann % chg -2.9 -8.9 -13.9 -17.5 -18.7 -18.6 ...

Financial Markets









NZD/USD $[2] 0.8343 0.8208 0.819 0.7762 0.7801 0.7982 0.8104
NZD/AUD $[2] 0.778 0.7779 0.7908 0.7766 0.7813 0.7757 0.7732
Trade weighted index (TWI) June 1979 = 100[2] 73.36 73.00 73.00 70.04 70.86 72.31 72.89
Official cash rate (OCR) % 2.50 2.50 2.50 2.50 2.50 2.50 2.50
90 day bank bill rate %[2] 2.75 2.74 2.74 2.59 2.61 2.67 2.64
10 year govt bond rate %[2] 3.99 4.17 3.98 3.66 3.41 3.40 3.67

Confidence Indicators/Surveys









National Bank - business confidence net % 28 33.8 35.8 27.1 12.6 15.1 19.5
National Bank - activity outlook net % 31.2 38.8 36.1 34.9 20.8 24.0 26.4
ANZ-Roy Morgan - consumer confidence net % 113.3 110.2 114.0 113.9 105.8 110.5 114.1

 

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, National Bank of New Zealand, NZIER, ANZ, Datastream, Westpac McDermott Miller, One News Colmar Brunton

Page top