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Monthly Economic Indicators

New Zealand Key Economic Data

30 January 2014

Quarterly Indicators

Quarterly Indicators
    2012Q2 2012Q3 2012Q4 2013Q1 2013Q2 2013Q3 2013Q4

Gross Domestic Product (GDP)

Real production GDP qtr % chg[1] 0.2 0.2 1.3 0.5 0.3 1.4 ...
ann ave % chg 2.8 2.8 2.6 2.3 2.2 2.6 ...
Real private consumption qtr % chg[1] 0.1 0.1 1.3 0.9 1.1 0.4 ...
ann ave % chg 3.5 3.1 2.9 2.5 2.5 3.0 ...
Real public consumption qtr % chg[1] 0.3 0.4 0.3 -0.6 0.1 2.2 ...
ann ave % chg -0.6 -1.0 -1.0 -0.6 -0.1 0.5 ...
Real residential investment qtr % chg[1] 7.2 4.3 2.0 8.0 -0.6 8.4 ...
ann ave % chg 7.2 13.3 15.4 19.1 17.9 17.7 ...
Real non-residential investment qtr % chg[1] 1.3 -2.0 0.6 1.6 6.7 0.9 ...
ann ave % chg 5.1 4.2 4.3 3.6 3.6 5.3 ...
Export volumes qtr % chg[1] -0.6 3.1 0.9 0.9 -3.8 -0.7 ...
ann ave % chg 2.5 3.2 2.2 2.5 2.6 1.0 ...
Import volumes qtr % chg[1] -2.6 1.5 -0.1 2.3 2.1 4.5 ...
ann ave % chg 4.3 2.2 2.6 1.2 2.4 4.6 ...
Nominal GDP - expenditure basis ann ave % chg 4.3 3.2 2.2 2.1 1.6 2.9 ...
Real GDP per capita ann ave % chg 2.0 2.0 1.9 1.6 1.5 1.9 ...
Real Gross National Disposable Income ann ave % chg 2.5 2.0 1.1 0.6 1.7 3.2 ...

External Trade

Current account balance (annual) NZ$ millions -7,516 -7,744 -8,590 -8,349 -8,243 -8,765 ...
% of GDP -3.6 -3.7 -4.1 -3.9 -3.9 -4.1 ...
Investment income balance (annual) NZ$ millions -9,957 -9,645 -9,300 -9,327 -8,896 -8,872 ...
Merchandise terms of trade qtr % chg -2.5 -3.2 -1.2 4.2 4.6 7.5 ...
ann % chg -6.7 -9.2 -8.9 -2.8 4.3 15.9 ...

Prices

CPI inflation qtr % chg 0.3 0.3 -0.2 0.4 0.2 0.9 0.1
ann % chg 1.0 0.8 0.9 0.9 0.7 1.4 1.6
Tradable inflation ann % chg -1.1 -1.2 -1.0 -1.1 -1.6 -0.5 -0.3
Non-tradable inflation ann % chg 2.4 2.3 2.5 2.4 2.5 2.8 2.9
GDP deflator ann % chg 1.4 -1.2 -2.3 0.3 0.0 3.1 ...
Consumption deflator ann % chg 0.4 0.5 0.6 0.4 0.1 0.5 ...

Labour Market

Employment (HLFS) qtr % chg[1] 0.1 -0.4 0.5 0.2 0.4 1.2 ...
ann % chg[1] 0.6 0.0 0.4 0.4 0.7 2.4 ...
Unemployment rate %[1] 6.8 7.2 6.7 6.2 6.4 6.2 ...
Participation rate %[1] 68.5 68.4 68.2 67.9 68.1 68.6 ...
LCI salary & wage rates - total (adjusted)[5] qtr % chg 0.5 0.5 0.5 0.4 0.4 0.4 ...
ann % chg 2.0 1.9 1.8 1.8 1.7 1.6 ...
QES average hourly earnings - total[5] qtr % chg 0.1 1.1 -0.1 0.8 0.2 1.6 ...
ann % chg 2.9 2.8 2.6 2.1 2.1 2.6 ...
Labour productivity[6] ann ave % chg 2.1 3.1 3.4 2.4 1.6 0.6 ...

Retail Sales

Core retail sales volume qtr % chg[1] 0.3 0.3 1.0 0.9 2.1 -0.1 ...
ann % chg 4.2 1.7 1.8 2.5 4.4 4.3 ...
Total retail sales volume qtr % chg[1] 0.9 0 1.8 0.8 1.5 0.3 ...
ann % chg 4.7 2.2 3.2 3.5 4.2 4.7 ...

Confidence Indicators/Surveys

               
WMM - consumer confidence[3] Index 100 103 111 111 117 115 120
QSBO - general business situation[4] net % -4.1 8.0 19.8 23.0 31.9 37.6 51.7
QSBO - own activity outlook[4] net % 8.1 17.7 18.7 18.1 17.8 30.3 30.7

Monthly Indicators

Monthly Indicators
    2013M07 2013M08 2013M09 2013M10 2013M11 2013M12 2014M01

External Sector

Merchandise trade - exports mth % chg[1] 12.8 -2.7 -8.6 0.0 1.9 ... ...
ann % chg[1] -5.3 -0.4 16.1 22.4 16.9 ... ...
Merchandise trade - imports mth % chg[1] -5.7 2.1 12.9 -5.0 7.9 ... ...
ann % chg[1] 17.0 10.0 -1.0 5.6 -2.8 ... ...
Merchandise trade balance (12 month total) NZ$ million -1705 -2129 -1559 -1018 -248 ... ...
Visitor arrivals number[1] 228,220 228,590 226,570 222,620 229,900 230,370 ...
Visitor departures number[1] 229,930 228,850 229,880 223,640 231,960 239,370 ...

Housing

Dwelling consents - residential mth % chg[1] -3.3 2.0 2.1 1.0 12.5 7.6 ...
ann % chg[1] 28.1 16.3 22.4 15.4 36.7 47.4 ...
House sales - dwellings mth % chg[1] 15.4 -3.5 0.4 0.5 -7.6 -1.0 ...
ann % chg[1] 14.7 8.5 18.9 2.0 -6.6 -1.1 ...
REINZ - house price index mth % chg -0.5 2.1 0.8 1.6 1.2 -1.0 ...
ann % chg 8.6 9.5 9.8 9.9 9.6 9.2 ...

Private Consumption

Electronic card transactions - total retail mth % chg[1] 0.5 0.6 -1.2 1.9 0.7 0.6 ...
ann % chg 7.7 6.4 3.5 7.0 6.7 5.5 ...
New car registrations mth % chg[1] 9.9 -4.0 -7.9 7.2 2.4 -1.5 ...
ann % chg 27.6 23.0 15.8 16.2 23.0 20.3 ...

Migration

Permanent & long-term arrivals number[1] 7,720 7,930 8,050 8,310 8,210 8,340 ...
Permanent & long-term departures number[1] 5,750 5,770 5,280 5,310 5,450 5,520 ...
Net PLT migration (12 month total) number 10,569 12,848 15,174 17,490 19,478 22,468 ...

Commodity Prices

Brent oil price US$/Barrel 107.89 111.34 111.64 109.16 107.96 110.67 108.06
WTI oil price US$/Barrel 104.70 106.54 106.24 100.55 93.87 97.75 94.30
ANZ NZ commodity price index mth % chg 0.6 0.7 -1.1 -1.0 0.2 1.7 ...
ann % chg 26.9 28.8 23.8 21.2 20.3 22.6 ...
ANZ world commodity price index mth % chg 0.6 0.7 0.9 1.4 -0.1 1.0 ...
ann % chg 25.7 26.0 22.9 22.9 21.6 21.6 ...

Financial Markets

NZD/USD $[2] 0.7885 0.7923 0.8125 0.8349 0.8265 0.8229 0.8293
NZD/AUD $[2] 0.8594 0.877 0.8759 0.8784 0.8856 0.915 0.9348
Trade weighted index (TWI) June 1979 = 100[2] 74.78 74.75 76.22 77.25 77.21 77.51 78.51
Official cash rate (OCR) % 2.50 2.50 2.50 2.50 2.50 2.50 2.50
90 day bank bill rate %[2] 2.64 2.64 2.65 2.67 2.66 2.73 2.89
10 year govt bond rate %[2] 4.23 4.47 4.70 4.65 4.71 4.76 4.65

Confidence Indicators/Surveys

ANZ Bank - business confidence net % 52.8 48.1 54.1 53.2 60.5 64.1 ...
ANZ Bank - activity outlook net % 43.7 43.3 45.3 47.1 47.1 53.5 ...
ANZ-Roy Morgan - consumer confidence net % 119.8 123.0 118.8 122.3 128.4 129.4 135.8
Performance of Manufacturing Index Index 59.3 57.3 54.5 56.1 57.0 56.4 ...
Performance of Services Index Index 58.0 52.7 56.1 58.0 56.4 57.5 ...

 

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

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