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Monthly Economic Indicators

New Zealand Key Economic Data

Quarterly Indicators

Quarterly Indicators
    2006Q2 2006Q3 2006Q4 2007Q2 2007Q3 2007Q3 2007Q4
Gross Domestic Product (GDP)
Real production GDP qtr % chg [1] 0 0.4 0.7 1.2 0.8 0.5 ...
ann ave % chg 2.1 1.6 1.6 1.6 2.1 2.7 ...
Real private consumption qtr % chg [1] 0 0.9 1.3 2.1 0.4 0.3 ...
ann ave % chg 3.6 3 2.4 2.6 3.3 3.9 ...
Real public consumption qtr % chg [1] 1.9 0.8 0.7 0.6 1 2.1 ...
ann ave % chg 4.9 4.9 4.7 4.4 4.3 4.3 ...
Real residential investment qtr % chg [1] -6.1 3.8 1.5 -0.2 3.5 1.9 ...
ann ave % chg -4.9 -3.5 -3 -2.7 1.6 3.6 ...
Real non-residential investment qtr % chg [1] -4.1 1.4 1.3 3.6 -1.8 -0.8 ...
ann ave % chg 5.7 2.1 -1.1 -2.2 0.3 1.9 ...
Export volumes qtr % chg [1] 2.1 2.5 -1.3 2.2 -0.8 -0.6 ...
ann ave % chg 0.6 1.2 1.7 3.1 3.5 2.3 ...
Import volumes qtr % chg [1] -1.7 0.7 1.5 4.1 2.6 0.2 ...
ann ave % chg 0.9 -2.4 -2.8 -1.7 1.7 5.3 ...
Nominal GDP - expenditure basis ann ave % chg 4.3 4.2 4.7 5 6.4 7.2 ...
Real GDP per capita ann ave % chg 1 0.4 0.3 0.4 1 1.6 ...
Real Gross National Disposable Income ann ave % chg 0.3 -0.1 0.4 1.7 2.9 3.6 ...
External Trade
Current account balance (annual) NZ$ millions -14604 -14031 -14004 -13522 -13682 -14234 ...
% of GDP -9.2 -8.8 -8.6 -8.2 -8.1 -8.3 ...
Investment income balance (annual) NZ$ millions -11763 -11832 -12092 -11863 -11880 -12358 ...
Merchandise terms of trade qtr % chg 2.6 -2.2 2.5 1.5 0.4 3.7 ...
ann % chg 0.5 -1.3 3.8 4.5 2.3 8.4 ...
Prices
CPI inflation qtr % chg 1.5 0.7 -0.2 0.5 1 0.5 1.2
ann % chg 4 3.5 2.6 2.5 2 1.8 3.2
Tradable inflation ann % chg 3.8 3 1.1 0.8 -0.5 -0.3 2.8
Non-tradable inflation ann % chg 4.1 4 3.9 4 4.1 3.7 3.5
GDP deflator ann % chg 1.6 2.9 2.9 3 4.1 3.8 ...
Consumption deflator ann % chg 3.2 3.1 2.5 2 1.6 1.5 ...
Labour Market
Employment (HLFS) qtr % chg [1] 0.8 -0.3 0 1.2 0.6 -0.3 ...
ann % chg [1] 3.1 1.5 1.4 1.7 1.6 1.5 ...
Unemployment rate % [1] 3.6 3.8 3.7 3.7 3.6 3.5 ...
Participation rate % [1] 68.6 68.3 68.1 68.6 68.8 68.3 ...
LCI salary & wage rates - total (adjusted) [6] qtr % chg 0.7 1 0.9 0.6 0.6 1 ...
ann % chg 3.3 3.2 3.2 3.2 3.1 3.1 ...
LCI salary & wage rates - total (unadjusted) [6] qtr % chg 1 1.4 1.3 0.8 1 1.7 ...
ann % chg 5.5 5.1 4.9 4.5 4.6 4.8 ...
QES average hourly earnings - total [6] qtr % chg 1.2 1.6 0.8 1 0.8 1.3 ...
ann % chg 4.4 5 5 4.6 4.3 4 ...
Labour productivity [7] ann ave % chg 0.7 1.1 0.7 1 1.4 1.9 ...
Confidence Indicators/Surveys
WMM - consumer confidence [3] Index 106 112 120 118 111 114 110
QSBO - general business situation [4] net % -43.8 -19.1 3.5 -15.3 -36.6 -27.3 -26.4
QSBO - own activity outlook [4] net % -0.8 10.5 15 16.1 8.8 15.4 13.9

Monthly Indicators

Monthly Indicators
    2007M 7 2007M 8 2007M 9 2007M10 2007M11 2007M12 2008M 1
External Sector
Merchandise trade - exports mth % chg [1] 0.2 6.4 7.8 13.2 -2.5 5.9 ...
ann % chg [1] -12.5 -2.5 3.8 24.2 21.3 24.1 ...
Merchandise trade - imports mth % chg [1] 0.8 -1.2 1.1 9.9 -2.7 2.2 ...
ann % chg [1] -7 -2.6 2.4 6.2 10.6 11.3 ...
Merchandise trade balance (12 month total) NZ$ million -6340 -6336 -6282 -5882 -5690 -5311 ...
Visitor arrivals number [1] 205440 212880 205630 200410 206010 ... ...
Visitor departures number [1] 208710 208610 208250 204610 205520 ... ...
Housing
Dwelling consents - residential mth % chg [1] -15.6 4.9 -9.8 -4.7 -0.1 -5.2 ...
ann % chg [1] -4.2 -1.5 -15.4 -16 -4.9 -6.7 ...
House sales - dwellings mth % chg [1] -6.4 -8.6 -8.6 12.4 2.5 -8.5 ...
ann % chg [1] -14 -25.3 -31.9 -22.5 -21.8 -32.1 ...
REINZ - median dwelling price mth % chg -0.1 1.5 0.5 -1.2 -0.4 -0.4 ...
ann % chg 10.3 12.9 12.2 8.1 6.8 4.6 ...
Private Consumption
Core retail sales mth % chg [1] 0.1 0.8 0.4 -1 0.9 ... ...
ann % chg [1] 5.1 6.7 5 3 4.4 ... ...
Total retail sales mth % chg [1] 0.2 0.3 1 -0.6 2 ... ...
ann % chg [1] 5.4 5.7 5.8 4.2 6.7 ... ...
New car registrations mth % chg [1] 7.1 1 -6.8 5.4 -3.9 -2.9 ...
ann % chg 7 10.9 0.1 4.7 2.3 1.4 ...
Electronic card transactions - total retail mth % chg [1] 0 1.5 1.3 -0.5 1.9 0 ...
ann % chg 6.1 8.2 8.1 7.7 10 7.3 ...
Migration
Permanent & long-term arrivals number [1] 6910 7390 7140 6780 7020 ... ...
Permanent & long-term departures number [1] 6420 6650 6460 6500 6490 ... ...
Net PLT migration (12 month total) number 8966 8730 8309 7517 6588 ... ...
Commodity Prices
Brent oil price US$/Barrel 76.13 71.31 76.77 82.51 92.73 91.52 92.14
WTI oil price US$/Barrel 74.05 72.39 79.63 85.93 94.77 91.77 93.04
ANZ NZ commodity price index mth % chg 1.1 10 1.5 -3.8 0.8 -0.9 ...
ann % chg 7.5 20.3 25.1 21.5 20.9 19 ...
ANZ world commodity price index mth % chg 4.7 1.4 0.4 1.8 0.8 0 ...
ann % chg 35.1 36.3 35.7 37.8 35.9 30.9 ...
Financial Markets
NZD/USD $ [2] 0.7858 0.7285 0.7171 0.7606 0.7624 0.7686 0.7718
NZD/AUD $ [2] 0.9065 0.8766 0.8492 0.8464 0.8499 0.8811 0.8758
Trade weighted index (TWI) June 1979 = 1002 75.42 70.18 68.33 71.22 70.26 71.58 71.24
Official cash rate (OCR) % 8.25 8.25 8.25 8.25 8.25 8.25 8.25
90 day bank bill rate % [2] 8.44 8.72 8.81 8.68 8.73 8.9 8.75
10 year govt bond rate % [2] 6.77 6.4 6.16 6.37 6.39 6.4 6.28
Confidence Indicators/Surveys
National Bank - business confidence net % -38.5 -33.8 -26.5 -12.9 -19.6 -24.9 ...
National Bank - activity outlook net % 12.4 16.7 17.2 20.3 15.7 18.2 ...
One News [5] - consumer confidence net % -10 -8 -8 -2 -6 -10 ...

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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