New Zealand Key Economic Data
31 January 2013
Quarterly Indicators
| 2011Q2 | 2011Q3 | 2011Q4 | 2012Q1 | 2012Q2 | 2012Q3 | 2012Q4 | ||
|---|---|---|---|---|---|---|---|---|
Gross Domestic Product (GDP) |
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| Real production GDP | qtr % chg[1] | 0.6 | 0.7 | 0.6 | 0.9 | 0.3 | 0.2 | ... |
| ann ave % chg | 0.9 | 0.8 | 1.5 | 1.9 | 2.4 | 2.5 | ... | |
| Real private consumption | qtr % chg[1] | 0.9 | 1.0 | 0.8 | 0.1 | 0.2 | -0.1 | ... |
| ann ave % chg | 1.5 | 1.7 | 2.1 | 2.5 | 2.7 | 2.3 | ... | |
| Real public consumption | qtr % chg[1] | 0.7 | 0.9 | 0.1 | -1.2 | 1.1 | 0.2 | ... |
| ann ave % chg | 1.5 | 2.2 | 2.0 | 1.8 | 1.6 | 0.9 | ... | |
| Real residential investment | qtr % chg[1] | -8.0 | 1.3 | 4.3 | 0.6 | 6.1 | 7.4 | ... |
| ann ave % chg | -6.2 | -11.4 | -11.2 | -10.7 | -2.7 | 6.2 | ... | |
| Real non-residential investment | qtr % chg[1] | -1.7 | 2.4 | -0.2 | 2.4 | 3.2 | -4.7 | ... |
| ann ave % chg | 8.0 | 10.0 | 7.9 | 5.9 | 5.4 | 3.6 | ... | |
| Export volumes | qtr % chg[1] | 0.2 | 0.1 | 3.6 | -2.1 | -0.9 | 4.0 | ... |
| ann ave % chg | 2.0 | 1.8 | 2.7 | 2.6 | 2.4 | 3.1 | ... | |
| Import volumes | qtr % chg[1] | 2.4 | 1.9 | -2.2 | 4.3 | -4.2 | 2.6 | ... |
| ann ave % chg | 11.4 | 10.6 | 6.6 | 6.1 | 3.6 | 1.3 | ... | |
| Nominal GDP - expenditure basis | ann ave % chg | 4.5 | 4.8 | 4.0 | 3.9 | 4.2 | 2.7 | ... |
| Real GDP per capita | ann ave % chg | -0.2 | -0.3 | 0.5 | 1.0 | 1.6 | 1.7 | ... |
| Real Gross National Disposable Income | ann ave % chg | 2.2 | 2.3 | 1.8 | 2.2 | 1.3 | 1.4 | ... |
External Trade |
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| Current account balance (annual) | NZ$ millions | -7,422 | -8,826 | -8,268 | -9,033 | -10,087 | -9,894 | ... |
| % of GDP | -3.7 | -4.3 | -4.0 | -4.4 | -4.8 | -4.7 | ... | |
| Investment income balance (annual) | NZ$ millions | -9,756 | -10,595 | -10,750 | -10,443 | -10,899 | -10,254 | ... |
| Merchandise terms of trade | qtr % chg | 2.4 | -0.6 | -1.5 | -2.3 | -2.5 | -3.2 | ... |
| ann % chg | 7.1 | 3.4 | 1.0 | -2.1 | -6.7 | -9.2 | ... | |
Prices |
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| CPI inflation | qtr % chg | 1.0 | 0.4 | -0.3 | 0.5 | 0.3 | 0.3 | -0.2 |
| ann % chg | 5.3 | 4.6 | 1.8 | 1.6 | 1.0 | 0.8 | 0.9 | |
| Tradable inflation | ann % chg | 5.5 | 4.6 | 1.1 | 0.3 | -1.1 | -1.2 | -1.0 |
| Non-tradable inflation | ann % chg | 5.2 | 4.5 | 2.5 | 2.5 | 2.4 | 2.3 | 2.5 |
| GDP deflator | ann % chg | 3.4 | 3.0 | 0.3 | -0.3 | 2.5 | -2.4 | ... |
| Consumption deflator | ann % chg | 4.1 | 3.2 | 1.6 | 1.4 | 1.2 | 1.1 | ... |
Labour Market |
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| Employment (HLFS) | qtr % chg[1] | 0.1 | 0.2 | 0.2 | 0.4 | -0.2 | -0.4 | ... |
| ann % chg[1] | 2.0 | 1.1 | 1.6 | 0.9 | 0.6 | 0.0 | ... | |
| Unemployment rate | %[1] | 6.6 | 6.6 | 6.4 | 6.7 | 6.8 | 7.3 | ... |
| Participation rate | %[1] | 68.4 | 68.4 | 68.3 | 68.7 | 68.4 | 68.4 | ... |
| LCI salary & wage rates - total (adjusted)[5] | qtr % chg | 0.5 | 0.6 | 0.6 | 0.4 | 0.5 | 0.5 | ... |
| ann % chg | 1.9 | 2.0 | 2.0 | 2.0 | 2.0 | 1.9 | ... | |
| QES average hourly earnings - total[5] | qtr % chg | 1.1 | 1.2 | 0.1 | 1.4 | 0.1 | 1.1 | ... |
| ann % chg | 3.0 | 3.2 | 2.8 | 3.8 | 2.9 | 2.8 | ... | |
| Labour productivity[6] | ann ave % chg | -1.1 | -1.1 | 0.0 | 0.7 | 1.7 | 2.8 | ... |
Retail Sales |
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| Core retail sales volume | qtr % chg[1] | 1 | 1.7 | 3.3 | -1.6 | 0.9 | -0.3 | ... |
| ann % chg | 1.9 | 3.3 | 7.3 | 4.3 | 4.3 | 1.8 | ... | |
| Total retail sales volume | qtr % chg[1] | 0.9 | 1.7 | 2.5 | -0.8 | 1.3 | -0.4 | ... |
| ann % chg | 1.1 | 2.9 | 6.4 | 4.2 | 4.8 | 2.3 | ... | |
Confidence Indicators/Surveys |
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| WMM - consumer confidence[3] | Index | 112 | 112 | 101 | 102 | 100 | 103 | 111 |
| QSBO - general business situation[4] | net % | 26.6 | 24.6 | 0.1 | 13.0 | -4.1 | 8.0 | 19.8 |
| QSBO - own activity outlook[4] | net % | 18.4 | 30.0 | 9.9 | 16.9 | 8.1 | 17.7 | 18.7 |
Monthly Indicators
| 2012M07 | 2012M08 | 2012M09 | 2012M10 | 2012M11 | 2012M12 | 2013M01 | ||
|---|---|---|---|---|---|---|---|---|
External Sector |
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| Merchandise trade - exports | mth % chg[1] | -2.5 | -1.1 | 4.4 | -8.1 | 7.3 | -6.4 | ... |
| ann % chg[1] | 9.1 | -3.6 | -4.5 | -10.9 | -2.1 | -5.1 | ... | |
| Merchandise trade - imports | mth % chg[1] | -1.7 | -8.4 | 5.7 | -15.2 | 13.9 | 5.2 | ... |
| ann % chg[1] | 9.5 | 0.0 | -3.6 | 1.6 | -1.5 | -10.1 | ... | |
| Merchandise trade balance (12 month total) | NZ$ million | -768 | -889 | -891 | -1380 | -1393 | -1208 | ... |
| Visitor arrivals | number[1] | 209,100 | 220,300 | 211,890 | 208,470 | 211,950 | ... | ... |
| Visitor departures | number[1] | 218,150 | 214,760 | 210,840 | 214,520 | 210,740 | ... | ... |
Housing |
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| Dwelling consents - residential | mth % chg[1] | 2.7 | 2.9 | 7.0 | -1.6 | -5.2 | 9.4 | ... |
| ann % chg[1] | 26.3 | 0.3 | 22.0 | 32.4 | 19.8 | 22.5 | ... | |
| House sales - dwellings | mth % chg[1] | 0.4 | 1.7 | -7.9 | 17.7 | -0.5 | -6.8 | ... |
| ann % chg[1] | 19.9 | 16.2 | 8.0 | 32.6 | 24.1 | 8.2 | ... | |
| REINZ - house price index | mth % chg | -0.7 | 1.3 | 0.6 | 1.5 | 1.4 | -0.6 | ... |
| ann % chg | 5.2 | 6.1 | 5.0 | 6.9 | 7.3 | 6.7 | ... | |
Private Consumption |
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| Electronic card transactions - total retail | mth % chg[1] | -1.1 | 2.6 | -0.6 | 0.5 | 0.5 | 0.3 | ... |
| ann % chg | 1.1 | 7.1 | 4.1 | 3.2 | 6.2 | 3.6 | ... | |
| New car registrations | mth % chg[1] | -0.8 | -0.4 | -3.7 | 9.5 | -3.7 | 0.1 | ... |
| ann % chg | 10.8 | 0.8 | 6.7 | 21.4 | 8.4 | 3.0 | ... | |
Migration |
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| Permanent & long-term arrivals | number[1] | 6,710 | 6,900 | 7,240 | 7,390 | 7,380 | ... | ... |
| Permanent & long-term departures | number[1] | 7,310 | 7,130 | 7,060 | 7,060 | 6,790 | ... | ... |
| Net PLT migration (12 month total) | number | -3,799 | -4,118 | -3,280 | -2,319 | -1,567 | ... | ... |
Commodity Prices |
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| Brent oil price | US$/Barrel | 102.79 | 113.36 | 112.95 | 111.92 | 109.41 | 109.56 | 112.31 |
| WTI oil price | US$/Barrel | 87.93 | 94.16 | 94.72 | 89.57 | 86.66 | 88.25 | 93.87 |
| ANZ NZ commodity price index | mth % chg | -2.9 | -0.8 | 2.9 | 1.1 | 1.0 | -0.1 | ... |
| ann % chg | -15.1 | -14.4 | -13.2 | -12.5 | -12.5 | -12.3 | ... | |
| ANZ world commodity price index | mth % chg | -0.4 | 0.5 | 3.4 | 1.3 | 1.0 | 1.0 | ... |
| ann % chg | -18.6 | -15.8 | -12.2 | -8.7 | -6.7 | -5.2 | ... | |
Financial Markets |
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| NZD/USD | $[2] | 0.7982 | 0.8098 | 0.8174 | 0.8198 | 0.8192 | 0.8318 | 0.8378 |
| NZD/AUD | $[2] | 0.7757 | 0.7733 | 0.7867 | 0.7967 | 0.7875 | 0.7943 | 0.7955 |
| Trade weighted index (TWI) | June 1979 = 100[2] | 72.31 | 72.85 | 72.80 | 73.12 | 73.38 | 74.32 | 75.26 |
| Official cash rate (OCR) | % | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 |
| 90 day bank bill rate | %[2] | 2.67 | 2.64 | 2.64 | 2.65 | 2.64 | 2.65 | 2.65 |
| 10 year govt bond rate | %[2] | 3.40 | 3.66 | 3.58 | 3.51 | 3.47 | 3.56 | 3.53 |
Confidence Indicators/Surveys |
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| ANZ Bank - business confidence | net % | 15.1 | 19.5 | 17.0 | 17.2 | 26.4 | 22.7 | ... |
| ANZ Bank - activity outlook | net % | 24 | 26.4 | 29.3 | 25.5 | 31.6 | 31.4 | ... |
| ANZ-Roy Morgan - consumer confidence | net % | 110.5 | 114.1 | 111.9 | 110.5 | 114.1 | 114.7 | 118.3 |
| Performance of Manufacturing Index | Index | 49.3 | 47.5 | 49.1 | 53.6 | 56.8 | 49.7 | ... |
| Performance of Services Index | Index | 51.8 | 50.3 | 51.8 | 57.7 | 57.5 | 52.2 | ... |
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
