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Monthly Economic Indicators

New Zealand Key Economic Data

Quarterly Indicators

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

Gross Domestic Product (GDP)

Real production GDP qtr % chg[1] 0.3 -0.1 0.3 0.7 0.1 0.8 ...
ann ave % chg 0.1 1.0 1.3 1.2 1.1 1.3 ...
Real private consumption qtr % chg[1] 0.4 0.4 0.6 0.5 0.4 1.5 ...
ann ave % chg 1.4 2.0 2.2 2.0 1.8 2.0 ...
Real public consumption qtr % chg[1] 1.0 0.2 1.3 0.4 0.0 0.6 ...
ann ave % chg 1.3 2.2 3.4 3.7 3.2 2.8 ...
Real residential investment qtr % chg[1] 12.7 -7.4 -6.3 -1.9 -6.8 -1.8 ...
ann ave % chg -3.7 4.7 4.6 4.4 -4.9 -11.3 ...
Real non-residential investment qtr % chg[1] 4.3 1.4 7.9 -0.4 0.9 -1.9 ...
ann ave % chg -8.6 -4.8 1.9 7.5 10.5 10.8 ...
Export volumes qtr % chg[1] 0.4 -1.2 2.0 0.8 -0.4 0.4 ...
ann ave % chg 4.9 3.8 2.9 1.9 1.5 2.1 ...
Import volumes qtr % chg[1] 0.7 2.9 6.6 -2.6 2.0 3.1 ...
ann ave % chg -1.7 5.7 10.3 10.5 10.4 9.9 ...
Nominal GDP - expenditure basis ann ave % chg 2.0 3.2 5.2 6.0 6.1 6.2 ...
Real GDP per capita ann ave % chg -1.1 -0.2 0.1 0.1 0.1 0.3 ...
Real Gross National Disposable Income ann ave % chg 1.0 0.5 2.3 1.8 2.5 2.8 ...

External Trade

Current account balance (annual) NZ$ millions -4698 -6621 -6787 -7196 -7396 -8675 ...
% of GDP -2.5 -3.5 -3.5 -3.6 -3.7 -4.3 ...
Investment income balance (annual) NZ$ millions -8273 -9750 -9538 -9649 -9501 -10213 ...
Merchandise terms of trade qtr % chg 2.0 3.0 0.8 0.8 2.4 -0.6 ...
ann % chg 12.7 17.9 12.3 6.7 7.1 3.4 ...

Prices

CPI inflation qtr % chg 0.2 1.1 2.3 0.8 1.0 0.4 -0.3
ann % chg 1.7 1.5 4.0 4.5 5.3 4.6 1.8
Tradable inflation ann % chg 1.0 0.3 3.3 3.7 5.5 4.6 1.1
Non-tradable inflation ann % chg 2.2 2.5 4.6 5.2 5.2 4.5 2.5
GDP deflator ann % chg 1.8 2.9 5.8 4.4 4.3 4.3 ...
Consumption deflator ann % chg 0.5 0.9 2.8 3.2 4.0 3.4 ...

Labour Market

Employment (HLFS) qtr % chg[1] -0.1 1.1 -0.3 1.2 0.0 0.2 ...
ann % chg[1] 0.0 1.8 1.3 1.8 2.0 1.1 ...
Unemployment rate %[1] 6.9 6.4 6.7 6.5 6.5 6.6 ...
Participation rate %[1] 68.1 68.3 68.0 68.6 68.3 68.4 ...
LCI salary & wage rates - total (adjusted)[5] qtr % chg 0.4 0.5 0.5 0.4 0.5 0.6 ...
ann % chg 1.6 1.6 1.7 1.8 1.9 2.0 ...
QES average hourly earnings - total[5] qtr % chg 0.7 1.0 0.5 0.4 1.1 1.2 ...
ann % chg 1.0 1.1 1.8 2.6 3.0 3.2 ...
Labour productivity[6] ann ave % chg 1.6 0.9 -0.2 -0.8 -0.9 -0.6 ...

Retail Sales

Core retail sales volume qtr % chg[1] 0.7 -0.4 0.1 1.1 1.1 2.4 ...
ann % chg 2.6 1.5 0.3 1.4 1.9 4.5 ...
Total retail sales volume qtr % chg[1] 0.6 -0.6 -0.3 1.1 1.0 2.2 ...
ann % chg 3.4 1.9 -0.1 0.8 1.1 3.9 ...

Confidence Indicators/Surveys

               
WMM - consumer confidence[3] Index 119 114 108 98 112 112 101
QSBO - general business situation[4] net % 17.5 6.4 8.1 -26.8 26.6 24.6 0.2
QSBO - own activity outlook[4] net % -4.9 -14.1 -1.3 -4.4 3.0 0.7 -3.5

Monthly Indicators

Monthly Indicators
    2011M7 2011M8 2011M9 2011M10 2011M11 2011M12 2012M1

External Sector

Merchandise trade - exports mth % chg[1] -1.4 3.2 -0.6 1.3 1.1 3.1 ...
ann % chg[1] 4.1 9.8 9.0 6.1 7.1 13.0 ...
Merchandise trade - imports mth % chg[1] -9.4 13.2 2.1 -5.6 5.3 -5.8 ...
ann % chg[1] -3.9 15.9 16.4 6.3 10.3 -2.0 ...
Merchandise trade balance (12 month total) NZ$ million 1288 1028 694 688 557 1113 ...
Visitor arrivals number[1] 215870 224000 265430 241580 214750 224440 ...
Visitor departures number[1] 211340 209850 239380 280360 217560 220370 ...

Housing

Dwelling consents - residential mth % chg[1] 11.0 20.2 -18.2 10.8 -6.2 2.1 ...
ann % chg[1] -17.6 19.1 -3.9 11.6 -5.0 18.1 ...
House sales - dwellings mth % chg[1] -3.3 5.3 -3.3 -0.5 6.2 4.4 ...
ann % chg[1] 11.2 20.5 21.2 29.0 17.8 20.5 ...
REINZ - house price index mth % chg -0.6 0.5 1.7 -0.3 1.1 -0.1 ...
ann % chg 0.5 0.7 2.7 3.4 2.6 3.1 ...

Private Consumption

Electronic card transactions - total retail mth % chg[1] 0.3 -0.4 0.5 1.5 -0.6 -0.3 ...
ann % chg 8.0 8.4 7.5 7.4 6.0 7.2 ...
New car registrations mth % chg[1] -1.8 8.7 -11.2 1.1 7.4 4.3 ...
ann % chg -6.0 1.9 -12.2 -8.8 -7.9 4.2 ...

Migration

Permanent & long-term arrivals number[1] 7370 7390 6950 6700 7080 6670 ...
Permanent & long-term departures number[1] 7540 7260 7620 7270 7180 7190 ...
Net PLT migration (12 month total) number 2867 2257 773 -103 -568 -1855 ...

Commodity Prices

Brent oil price US$/Barrel 117.48 110.35 111.96 110.43 111.16 108.35 111.41
WTI oil price US$/Barrel 97.08 86.33 85.65 86.41 97.11 98.57 100.10
ANZ NZ commodity price index mth % chg -3.7 -0.2 0.2 -0.7 1.1 -0.6 -2.9
ann % chg 4.7 5.7 4.9 3.8 5.9 1.2 -4.4
ANZ world commodity price index mth % chg -0.2 -1.4 -2.0 -3.6 -1.1 -0.8 1.2
ann % chg 22.2 22.0 16.5 9.0 5.5 3.1 0.1

Financial Markets

NZD/USD $[2] 0.8455 0.8384 0.8143 0.7879 0.7728 0.7697 0.8007
NZD/AUD $[2] 0.7852 0.7978 0.7943 0.7799 0.7635 0.7603 0.7691
Trade weighted index (TWI) June 1979 = 100[2] 72.70 72.10 71.20 69.30 68.20 68.60 71.20
Official cash rate (OCR) % 2.50 2.50 2.50 2.50 2.50 2.50 2.50
90 day bank bill rate %[2] 2.71 2.90 2.88 2.76 2.69 2.69 2.74
10 year govt bond rate %[2] 5.07 4.55 4.41 4.54 4.14 3.91 3.86

Confidence Indicators/Surveys

National Bank - business confidence net % 47.6 34.4 30.3 13.2 18.3 16.9 ...
National Bank - activity outlook net % 43.7 43.3 35.4 26.1 28.8 25.7 ...
ANZ-Roy Morgan - consumer confidence net % 109.4 113.3 112.6 112.2 109 108.4 116.1

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 National Bank, Datastream, Westpac McDermott Miller.

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