New Zealand Key Economic Data
31 August 2012
Quarterly Indicators
| 2010Q4 | 2011Q1 | 2011Q2 | 2011Q3 | 2011Q4 | 2012Q1 | 2012Q2 | ||
|---|---|---|---|---|---|---|---|---|
Gross Domestic Product (GDP) |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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
| 2012M02 | 2012M03 | 2012M04 | 2012M05 | 2012M06 | 2012M07 | 2012M08 | ||
|---|---|---|---|---|---|---|---|---|
External Sector |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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
