New Zealand Key Economic Data
2 September 2013
Quarterly Indicators
| 2011Q4 | 2012Q1 | 2012Q2 | 2012Q3 | 2012Q4 | 2013Q1 | 2013Q2 | ||
|---|---|---|---|---|---|---|---|---|
Gross Domestic Product (GDP) |
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| Real production GDP | qtr % chg[1] | 0.3 | 1.1 | 0.3 | 0.3 | 1.5 | 0.3 | ... |
| ann ave % chg | 1.4 | 1.9 | 2.4 | 2.5 | 2.7 | 2.5 | ... | |
| Real private consumption | qtr % chg[1] | 0.3 | 0.6 | 0.3 | 0.1 | 1.5 | 0.4 | ... |
| ann ave % chg | 2.0 | 2.5 | 2.7 | 2.4 | 2.3 | 2.2 | ... | |
| Real public consumption | qtr % chg[1] | 0.5 | -0.9 | 1.0 | 0.3 | -0.6 | -0.2 | ... |
| ann ave % chg | 1.9 | 1.8 | 1.6 | 1.2 | 0.6 | 0.6 | ... | |
| Real residential investment | qtr % chg[1] | 5.1 | 0.7 | 7.4 | 5.2 | 2.2 | 9.6 | ... |
| ann ave % chg | -11.2 | -10.8 | -2.2 | 6.6 | 12.1 | 19.2 | ... | |
| Real non-residential investment | qtr % chg[1] | -0.2 | 3.4 | 3.3 | -4.3 | 2.2 | -2.2 | ... |
| ann ave % chg | 7.6 | 6.0 | 5.8 | 4.5 | 5.0 | 3.7 | ... | |
| Export volumes | qtr % chg[1] | 4.2 | -2.7 | -1.2 | 4.2 | 1.4 | 2.5 | ... |
| ann ave % chg | 2.7 | 2.6 | 2.4 | 3.0 | 2.0 | 3.4 | ... | |
| Import volumes | qtr % chg[1] | -1.3 | 2.8 | -2.9 | 2.1 | -0.7 | 2.3 | ... |
| ann ave % chg | 6.5 | 6.1 | 3.7 | 1.5 | 1.9 | 0.5 | ... | |
| Nominal GDP - expenditure basis | ann ave % chg | 3.9 | 3.8 | 4.1 | 3.0 | 2.4 | 2.7 | ... |
| Real GDP per capita | ann ave % chg | 0.4 | 1.0 | 1.6 | 1.7 | 2.0 | 1.9 | ... |
| Real Gross National Disposable Income | ann ave % chg | 1.7 | 2.2 | 1.4 | 1.5 | 1.3 | 1.0 | ... |
External Trade |
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| Current account balance (annual) | NZ$ millions | -8,268 | -9,033 | -10,087 | -9,861 | -10,486 | -10,077 | ... |
| % of GDP | -4.0 | -4.4 | -4.8 | -4.7 | -5.0 | -4.8 | ... | |
| Investment income balance (annual) | NZ$ millions | -10,750 | -10,443 | -10,899 | -10,226 | -9,824 | -10,030 | ... |
| Merchandise terms of trade | qtr % chg | -1.5 | -2.3 | -2.5 | -3.2 | -1.2 | 4.2 | ... |
| ann % chg | 1.0 | -2.1 | -6.7 | -9.2 | -8.9 | -2.9 | ... | |
Prices |
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| CPI inflation | qtr % chg | -0.3 | 0.5 | 0.3 | 0.3 | -0.2 | 0.4 | 0.2 |
| ann % chg | 1.8 | 1.6 | 1.0 | 0.8 | 0.9 | 0.9 | 0.7 | |
| Tradable inflation | ann % chg | 1.1 | 0.3 | -1.1 | -1.2 | -1.0 | -1.1 | -1.6 |
| Non-tradable inflation | ann % chg | 2.5 | 2.5 | 2.4 | 2.3 | 2.5 | 2.4 | 2.5 |
| GDP deflator | ann % chg | 0.4 | -0.2 | 1.7 | -1.5 | -2.7 | 0.9 | ... |
| Consumption deflator | ann % chg | 1.6 | 1.3 | 0.9 | 0.7 | 0.5 | 0.4 | ... |
Labour Market |
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| Employment (HLFS) | qtr % chg[1] | 0.4 | 0.0 | 0.0 | -0.4 | -0.9 | 1.7 | 0.4 |
| ann % chg[1] | 1.6 | 0.9 | 0.6 | 0.0 | -1.3 | 0.3 | 0.7 | |
| Unemployment rate | %[1] | 6.3 | 6.8 | 6.8 | 7.3 | 6.8 | 6.2 | 6.4 |
| Participation rate | %[1] | 68.4 | 68.7 | 68.4 | 68.4 | 67.3 | 67.9 | 68 |
| LCI salary & wage rates - total (adjusted)[5] | qtr % chg | 0.6 | 0.4 | 0.5 | 0.5 | 0.5 | 0.4 | 0.4 |
| ann % chg | 2.0 | 2.0 | 2.0 | 1.9 | 1.8 | 1.8 | 1.7 | |
| QES average hourly earnings - total[5] | qtr % chg | 0.1 | 1.4 | 0.1 | 1.1 | -0.1 | 0.8 | 0.2 |
| ann % chg | 2.8 | 3.8 | 2.9 | 2.8 | 2.6 | 2.1 | 2.1 | |
| Labour productivity[6] | ann ave % chg | -0.1 | 0.7 | 1.7 | 2.8 | 3.4 | 2.6 | ... |
Retail Sales |
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| Core retail sales volume | qtr % chg[1] | 1.9 | -0.3 | 0.6 | 0.0 | 1.1 | 1.0 | 2.3 |
| ann % chg | 6.4 | 4.2 | 4.1 | 1.7 | 1.8 | 2.5 | 4.5 | |
| Total retail sales volume | qtr % chg[1] | 1.4 | 0.3 | 1.1 | -0.2 | 1.8 | 0.9 | 1.7 |
| ann % chg | 5.7 | 4.2 | 4.7 | 2.2 | 3.2 | 3.5 | 4.2 | |
Confidence Indicators/Surveys |
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| WMM - consumer confidence[3] | Index | 101 | 102 | 100 | 103 | 111 | 111 | 117 |
| QSBO - general business situation[4] | net % | 0.1 | 13.0 | -4.1 | 8.0 | 19.8 | 23.0 | 31.9 |
| QSBO - own activity outlook[4] | net % | 9.9 | 16.9 | 8.1 | 17.7 | 18.7 | 18.1 | 17.8 |
Monthly Indicators
| 2013M02 | 2013M03 | 2013M04 | 2013M05 | 2013M06 | 2013M07 | 2013M08 | ||
|---|---|---|---|---|---|---|---|---|
External Sector |
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| Merchandise trade - exports | mth % chg[1] | 3.4 | -1.1 | 1.4 | -0.6 | 0.6 | 12.0 | ... |
| ann % chg[1] | 7.6 | 4.8 | 1.9 | -8.0 | -4.1 | -4.8 | ... | |
| Merchandise trade - imports | mth % chg[1] | 15.4 | 0.6 | -9.0 | -3.4 | 13.0 | -5.9 | ... |
| ann % chg[1] | 1.6 | -8.6 | 6.8 | -3.4 | -6.6 | 17.1 | ... | |
| Merchandise trade balance (12 month total) | NZ$ million | -1066 | -521 | -687 | -901 | -816 | -1688 | ... |
| Visitor arrivals | number[1] | 224,630 | 226,820 | 230,850 | 229,230 | 225,190 | 228,100 | ... |
| Visitor departures | number[1] | 220,920 | 230,130 | 234,070 | 231,190 | 236,180 | 231,260 | ... |
Housing |
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| Dwelling consents - residential | mth % chg[1] | 5.2 | -9.6 | 20.6 | 1.0 | -4.0 | ... | ... |
| ann % chg[1] | 28.1 | -5.4 | 42.7 | 43.7 | 16.4 | ... | ... | |
| House sales - dwellings | mth % chg[1] | -3.9 | -0.2 | 3.5 | -2.7 | -6.9 | 12.0 | ... |
| ann % chg[1] | 7.5 | 10.9 | 25.2 | 7.5 | 0.0 | 14.7 | ... | |
| REINZ - house price index | mth % chg | 1.6 | 2.4 | 0.8 | 0.7 | 0.0 | -0.5 | ... |
| ann % chg | 8.1 | 8.6 | 9.8 | 8.7 | 8.4 | 8.6 | ... | |
Private Consumption |
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| Electronic card transactions - total retail | mth % chg[1] | 0.7 | -0.3 | 0.9 | 0.7 | 1.0 | 0.4 | ... |
| ann % chg | 2.5 | 4.2 | 5.2 | 5.4 | 5.1 | 7.7 | ... | |
| New car registrations | mth % chg[1] | 1.2 | 0.1 | 7.9 | 1.8 | 0.2 | 8.5 | ... |
| ann % chg | 9.4 | 11.2 | 17.8 | 16.3 | 15.6 | 27.6 | ... | |
Migration |
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| Permanent & long-term arrivals | number[1] | 7,220 | 7,740 | 7,810 | 7,810 | 8,220 | 7,740 | ... |
| Permanent & long-term departures | number[1] | 6,420 | 6,430 | 6,200 | 6,060 | 5,990 | 5,760 | ... |
| Net PLT migration (12 month total) | number | 1,195 | 2,542 | 4,776 | 6,242 | 7,907 | 10,569 | ... |
Commodity Prices |
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| Brent oil price | US$/Barrel | 116.19 | 108.49 | 102.53 | 102.52 | 102.92 | 107.89 | 110.84 |
| WTI oil price | US$/Barrel | 95.32 | 93.05 | 92.07 | 94.80 | 95.80 | 104.61 | 106.40 |
| ANZ NZ commodity price index | mth % chg | 0.4 | 8.5 | 10.2 | 0.7 | 0.8 | 0.6 | ... |
| ann % chg | -5.9 | 2.2 | 17.4 | 17.3 | 22.5 | 26.9 | ... | |
| ANZ world commodity price index | mth % chg | 1.1 | 7.4 | 12.6 | -1.6 | -3.7 | 0.6 | ... |
| ann % chg | -4.9 | 3.9 | 22.5 | 26.1 | 24.4 | 25.7 | ... | |
Financial Markets |
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| NZD/USD | $[2] | 0.8389 | 0.8279 | 0.8473 | 0.8267 | 0.7908 | 0.7885 | 0.7936 |
| NZD/AUD | $[2] | 0.8136 | 0.8013 | 0.8158 | 0.8325 | 0.838 | 0.8594 | 0.8775 |
| Trade weighted index (TWI) | June 1979 = 100[2] | 76.26 | 76.15 | 78.05 | 77.31 | 74.00 | 74.78 | 74.86 |
| Official cash rate (OCR) | % | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 |
| 90 day bank bill rate | %[2] | 2.66 | 2.64 | 2.65 | 2.64 | 2.64 | 2.64 | 2.64 |
| 10 year govt bond rate | %[2] | 3.81 | 3.72 | 3.34 | 3.37 | 3.84 | 4.23 | 4.46 |
Confidence Indicators/Surveys |
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| ANZ Bank - business confidence | net % | 39.4 | 34.6 | 32.3 | 42 | 50.1 | 52.8 | 48.1 |
| ANZ Bank - activity outlook | net % | 37.6 | 32.4 | 30.3 | 34 | 45.0 | 43.7 | 43.3 |
| ANZ-Roy Morgan - consumer confidence | net % | 121.0 | 115.0 | 119.2 | 123.7 | 123.9 | 119.8 | 123.0 |
| Performance of Manufacturing Index | Index | 56.2 | 53.7 | 55.0 | 59 | 55.2 | 59.5 | ... |
| Performance of Services Index | Index | 55.8 | 55.6 | 56.1 | 56 | 55.1 | 58.1 | ... |
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, NZIER, ANZ, Haver, Westpac McDermott Miller, ANZ-Roy Morgan, REINZ, BNZ-Business NZ
