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Monthly Economic Indicators

New Zealand Key Economic Data

Quarterly Indicators

Quarterly Indicators
    2007Q2 2007Q3 2007Q4 2008Q1 2008Q2 2008Q3 2008Q4
Gross Domestic Product (GDP)
Real production GDP qtr % chg[1] 0.9 0.7 0.8 -0.3 -0.2 -0.4 ...
ann ave % chg 2.3 2.8 3.1 3.1 2.5 1.7 ...
Real private consumption qtr % chg[1] 0.4 0.6 0.5 -0.4 -0.2 -0.1 ...
ann ave % chg 3.3 3.8 4.0 3.2 2.3 1.1 ...
Real public consumption qtr % chg[1] 1.3 1.7 0.4 1.4 0.2 1.0 ...
ann ave % chg 3.9 3.9 3.9 4.3 4.3 4.0 ...
Real residential investment qtr % chg[1] 4.7 0.4 -2.0 -5.2 -8.2 -7.8 ...
ann ave % chg 2.2 4.2 5.1 4.3 -2.0 -9.7 ...
Real non-residential investment qtr % chg[1] -1.5 1.0 3.8 -0.6 4.0 -8.6 ...
ann ave % chg 2.2 3.2 4.9 4.2 4.5 3.1 ...
Export volumes qtr % chg[1] -0.6 0.2 4.1 -1.9 -0.3 -3.1 ...
ann ave % chg 3.5 2.4 3.8 2.9 2.7 2.4 ...
Import volumes qtr % chg[1] 2.7 0.9 3.7 1.1 3.8 -7.6 ...
ann ave % chg 1.7 5.3 8.6 9.6 9.7 7.5 ...
Nominal GDP - expenditure basis ann ave % chg 6.6 7.0 7.3 7.4 6.1 4.7 ...
Real GDP per capita ann ave % chg 1.1 1.6 2.0 2.1 1.5 0.7 ...
Real Gross National Disposable Income ann ave % chg 2.8 3.3 4.7 5.0 4.7 4.4 ...
External Trade
Current account balance (annual) NZ$ millions -14096 -14892 -14372 -14211 -14982 -15509 ...
% of GDP -8.3 -8.7 -8.2 -8.0 -8.4 -8.6 ...
Investment income balance (annual) NZ$ millions -12135 -12796 -12837 -13388 -13861 -13663 ...
Merchandise terms of trade qtr % chg 0.4 3.7 2.9 4.2 -0.4 -2.3 ...
ann % chg 2.3 8.4 8.8 11.6 10.7 4.4 ...
Prices
CPI inflation qtr % chg 1.0 0.5 1.2 0.7 1.6 1.5 -0.5
ann % chg 2.0 1.8 3.2 3.4 4.0 5.1 3.4
Tradable inflation ann % chg -0.5 -0.3 2.8 3.4 4.8 6.3 2.3
Non-tradable inflation ann % chg 4.1 3.7 3.5 3.5 3.4 4.1 4.3
GDP deflator ann % chg 4.1 3.2 5.8 6.1 3.7 1.6 ...
Consumption deflator ann % chg 1.3 1.2 1.9 2.5 3.3 4.1 ...
Labour Market
Employment (HLFS) qtr % chg[1] 0.2 -0.1 1.0 -1.3 1.2 0.1 0.9
ann % chg[1] 1.5 1.6 2.5 -0.2 0.7 1.0 0.9
Unemployment rate %[1] 3.6 3.5 3.4 3.7 3.9 4.2 4.6
Participation rate %[1] 68.6 68.3 68.7 67.7 68.6 68.7 69.3
LCI salary & wage rates - total (adjusted)[6] qtr % chg 0.6 1.0 1.0 0.8 0.7 1.2 0.7
ann % chg 3.1 3.1 3.3 3.4 3.5 3.6 3.3
LCI salary & wage rates - total (unadjusted)[6] qtr % chg 1.0 1.7 1.4 1.2 1.1 1.5 1.5
ann % chg 4.6 4.8 5.0 5.4 5.5 5.3 5.4
QES average hourly earnings - total[6] qtr % chg 0.8 1.3 1.0 1.5 1.4 1.5 0.9
ann % chg 4.3 4.0 4.2 4.6 5.3 5.5 5.4
Labour productivity[7] ann ave % chg 1.5 2.0 2.6 3.2 2.6 1.7 ...
Confidence Indicators/Surveys
WMM - consumer confidence[3] Index 111 114 110 97 82 105 101
QSBO - general business situation[4] net % -36.6 -27.3 -26.4 -64.1 -63.7 -19.3 -64.4
QSBO - own activity outlook[4] net % 8.8 15.4 13.9 -9.7 -22.9 -8.3 -40.9

Monthly Indicators

Monthly Indicators
    2008M 8 2008M 9 2008M10 2008M11 2008M12 2009M 1 2009M 2
External Sector
Merchandise trade - exports mth % chg[1] 8.4 -13.8 13.9 -3.1 -1.0 -0.7 ...
ann % chg[1] 34.7 8.1 13.2 9.5 3.9 2.9 ...
Merchandise trade - imports mth % chg[1] 0.7 4.0 -1.5 -5.5 6.6 -15.6 ...
ann % chg[1] 22.7 26.9 15.3 7.5 14.9 -1.0 ...
Merchandise trade balance (12 month total) NZ$ million -4369 -5048 -5269 -5235 -5607 -5483 ...
Visitor arrivals number[1] 206830 194520 196170 198200 205950 ... ...
Visitor departures number[1] 205630 193730 196690 200080 202530 ... ...
Housing
Dwelling consents - residential mth % chg[1] -6.8 8.4 -19.2 4.0 -5.9 ... ...
ann % chg[1] -43.1 -28.3 -43.1 -39.5 -41.0 ... ...
House sales - dwellings mth % chg[1] -8.8 2.0 -3.6 -15.6 27.0 -8.6 ...
ann % chg[1] -33.6 -23.8 -34.9 -45.5 -23.4 -28.8 ...
REINZ - median dwelling price mth % chg -2.1 -0.1 0.3 -0.1 -0.8 0.2 ...
ann % chg -5.7 -6.1 -4.3 -4.1 -4.8 -4.3 ...
Private Consumption
Core retail sales mth % chg[1] 0.8 -0.5 1.0 0.1 -0.6 ... ...
ann % chg[1] 1.9 1.1 3.0 2.3 1.0 ... ...
Total retail sales mth % chg[1] 0.4 0.3 -1.2 0.2 -1.0 ... ...
ann % chg[1] 1.3 0.6 -0.2 -1.7 -2.8 ... ...
New car registrations mth % chg[1] -3.5 10.1 -0.8 -19.6 12.8 -7.8 ...
ann % chg -30.5 -15.6 -19.9 -34.4 -23.7 -36.5 ...
Electronic card transactions - total retail mth % chg[1] 0.8 -0.2 0.8 -2.6 -0.5 -0.6 ...
ann % chg 5.9 4.0 6.6 0.2 0.1 1.2 ...
Migration
Permanent & long-term arrivals number[1] 7790 7090 7410 7030 6960 ... ...
Permanent & long-term departures number[1] 7430 7120 7430 7480 6690 ... ...
Net PLT migration (12 month total) number 4938 4403 4329 3569 3814 ... ...
Commodity Prices
Brent oil price US$/Barrel 113.80 98.76 71.96 52.71 40.51 43.17 ...
WTI oil price US$/Barrel 116.70 104.44 76.28 56.97 40.64 41.63 ...
ANZ NZ commodity price index mth % chg 2.0 -1.1 0.4 -1.5 -6.1 -4.3 ...
ann % chg 6.1 3.3 7.9 5.4 -0.1 -2.6 ...
ANZ world commodity price index mth % chg -3.4 -5.1 -7.6 -7.4 -7.4 -4.3 ...
ann % chg 3.5 -2.1 -11.1 -18.3 -24.3 -26.5 ...
Financial Markets
NZD/USD $[2] 0.7102 0.6748 0.6137 0.5651 0.5569 0.5526 ...
NZD/AUD $[2] 0.8031 0.8224 0.8809 0.8600 0.8320 0.8154 ...
Trade weighted index (TWI) June 1979 = 100[2] 65.52 63.82 60.74 57.41 55.11 54.86 ...
Official cash rate (OCR) % 8.00 7.50 6.50 6.50 5.00 3.50 ...
90 day bank bill rate %[2] 8.2 7.95 7.43 6.25 5.23 4.38 ...
10 year govt bond rate %[2] 6.13 5.82 5.86 5.73 4.88 4.49 ...
Confidence Indicators/Surveys
National Bank - business confidence net % -20.5 1.6 -42.3 -43.0 -35.0 -35.0 -41.2
National Bank - activity outlook net % 4.7 16.7 -11.4 -14.1 -21.5 -30.5 -20.1
One News[5] - consumer confidence net % 6 23 -5 5 0.3 -4.3 -9

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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