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Monthly Economic Indicators

New Zealand Key Economic Data

26 Jan 2015

Quarterly Indicators

Quarterly Indicators
    2013Q2 2013Q3 2013Q4 2014Q1 2014Q2 2014Q3 2014Q4

Gross Domestic Product (GDP)

Real production GDP qtr % chg[1] 0.4 1.0 0.6 0.9 0.7 1.0 ...
ann ave % chg 2.1 2.4 2.2 2.5 2.8 2.9 ...
Real private consumption qtr % chg[1] 0.8 0.3 0.8 0.3 1.3 1.5 ...
ann ave % chg 2.5 2.8 2.9 2.9 2.8 3.0 ...
Real public consumption qtr % chg[1] 0.6 1.6 0.4 1.2 1.0 0.4 ...
ann ave % chg 0.1 1.1 1.9 2.7 3.5 3.5 ...
Real residential investment qtr % chg[1] 0.9 7.2 0.6 10.9 -0.3 0.0 ...
ann ave % chg 16.4 16.3 16.6 16.6 18.0 16.3 ...
Real non-residential investment qtr % chg[1] 5.5 4.1 -0.5 -0.6 2.7 3.8 ...
ann ave % chg 3.2 4.8 6.2 8.4 8.7 7.2 ...
Export volumes qtr % chg[1] -3.0 -0.8 3.5 2.9 -4.2 -0.4 ...
ann ave % chg 3.1 1.3 1.1 0.3 0.4 1.5 ...
Import volumes qtr % chg[1] 1.8 4.0 0.2 2.1 3.0 0.3 ...
ann ave % chg 2.5 4.6 6.3 8.0 8.9 8.0 ...
Nominal GDP - expenditure basis ann ave % chg 2.0 3.1 5.4 6.8 8.1 7.7 ...
Real GDP per capita ann ave % chg 1.5 1.7 1.4 1.5 1.6 1.5 ...
Real Gross National Disposable Income ann ave % chg 1.9 3.0 4.3 5.7 6.4 6.2 ...

External Trade

Current account balance (annual) NZ$ millions -7,894 -8,476 -7,350 -6,005 -5,814 -6,090 ...
% of GDP -3.6 -3.9 -3.3 -2.6 -2.5 -2.6 ...
Investment income balance (annual) NZ$ millions -8,501 -8,507 -9,027 -9,338 -9,770 -9,947 ...
Merchandise terms of trade qtr % chg 4.6 7.5 2.5 1.8 0.1 -4.5 ...
ann % chg 4.3 15.8 20.2 17.3 12.2 -0.2 ...

Prices

CPI inflation qtr % chg 0.2 0.9 0.1 0.3 0.3 0.3 -0.2
ann % chg 0.7 1.4 1.6 1.5 1.6 1.0 0.8
Tradable inflation ann % chg -1.6 -0.5 -0.3 -0.6 0.1 -1.0 -1.3
Non-tradable inflation ann % chg 2.5 2.8 2.9 3.0 2.7 2.5 2.4
GDP deflator ann % chg -0.1 3.7 7.6 5.8 4.8 1.7 ...
Consumption deflator ann % chg 0.2 0.6 1.0 0.9 1.0 0.6 ...

Labour Market

Employment (HLFS) qtr % chg[1] 0.5 1.3 1.0 0.9 0.5 0.8 ...
ann % chg[1] 0.7 2.5 3.0 3.7 3.7 3.2 ...
Unemployment rate %[1] 6.4 6.1 6.0 6.0 5.6 5.4 ...
Participation rate %[1] 68.1 68.6 68.9 69.2 68.9 69.0 ...
LCI salary & wage rates - total (adjusted)[5] qtr % chg 0.4 0.4 0.5 0.3 0.5 0.5 ...
ann % chg 1.7 1.6 1.6 1.5 1.6 1.7 ...
QES average hourly earnings - total[5] qtr % chg 0.2 1.6 0.2 0.5 0.2 1.4 ...
ann % chg 2.1 2.6 2.9 2.5 2.5 2.3 ...
Labour productivity[6] ann ave % chg 1.5 0.4 -0.9 -1.0 -1.1 -0.9 ...

Retail Sales

Core retail sales volume qtr % chg[1] 1.8 -0.3 1.0 1.1 1.2 1.4 ...
ann % chg 4.4 4.3 3.7 3.6 3 4.5 ...
Total retail sales volume qtr % chg[1] 1.2 0.3 1.2 1 1.1 1.5 ...
ann % chg 4.2 4.7 3.9 3.8 3.6 4.7 ...

Confidence Indicators/Surveys

               
WMM - consumer confidence[3] Index 117 115 120 122 121 117 115
QSBO - general business situation[4] net % 35.9 37.8 52.8 51.7 31.7 19.0 22.8
QSBO - own activity outlook[4] net % 0.8 6.1 19.0 33.9 20.1 12.8 30.2

Monthly Indicators

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

External Sector

Merchandise trade - exports mth % chg[1] 3.5 -7.6 14.8 -3.0 -7.8 ... ...
ann % chg[1] -3.8 7.2 -5.6 -5.8 -9.5 ... ...
Merchandise trade - imports mth % chg[1] -9.0 15.0 -9.1 3.8 2.5 ... ...
ann % chg[1] 0.2 -11.8 23.2 11.2 -1.3 ... ...
Merchandise trade balance (12 month total) NZ$ million 1034 1805 656 -87 -453 ... ...
Visitor arrivals number[1] 235,800 229,420 232,840 241,090 248,670 ... ...
Visitor departures number[1] 238,020 238,830 232,120 238,350 259,420 ... ...

Housing

Dwelling consents - residential mth % chg[1] -2.1 -0.2 -11.6 9.8 10.0 ... ...
ann % chg[1] 20.5 15.7 6.6 13.8 6.7 ... ...
House sales - dwellings mth % chg[1] 4.9 -4.6 4.9 7.5 3.0 16.9 ...
ann % chg[1] -13.0 -16.3 -12.0 -2.4 6.5 24.2 ...
REINZ - house price index mth % chg 0.2 0.2 0.1 0.7 2.4 ... ...
ann % chg 5.9 4.8 4.1 3.9 6.0 ... ...

Private Consumption

Electronic card transactions - total retail mth % chg[1] -0.2 0.8 0.1 1.0 -0.2 -0.1 ...
ann % chg 5.1 4.1 5.4 5.7 3.3 3.5 ...
New car registrations mth % chg[1] 1.9 -1.2 2.9 -1.6 0.0 2.0 ...
ann % chg 16.6 18.7 31.1 21.3 16.5 21.0 ...

Migration

Permanent & long-term arrivals number[1] 9,330 9,510 9,580 9,900 9,810 ... ...
Permanent & long-term departures number[1] 4,750 4,760 4,850 4,660 4,790 ... ...
Net PLT migration (12 month total) number 41,043 43,483 45,414 47,684 49,836 ... ...

Commodity Prices

Brent oil price US$/Barrel 106.77 101.61 97.09 87.43 79.44 62.34 48.66
WTI oil price US$/Barrel 103.59 96.54 93.21 84.37 75.79 59.29 48.24
ANZ NZ commodity price index mth % chg -3.4 -0.4 1.6 2.4 -1.6 -3.8 ...
ann % chg -11.5 -12.5 -9.9 -6.8 -8.7 -13.7 ...
ANZ world commodity price index mth % chg -2.4 -3.3 -1.3 -0.8 -1.6 -4.4 ...
ann % chg -3.3 -7.2 -9.4 -11.3 -12.4 -17.2 ...

Financial Markets

NZD/USD $[2] 0.8697 0.8435 0.8167 0.7869 0.7832 0.7764 0.7727
NZD/AUD $[2] 0.9259 0.9065 0.9001 0.8973 0.9051 0.9400 0.9497
Trade weighted index (TWI) June 1979 = 100[2] 81.93 79.91 78.49 76.76 77.43 78.24 78.82
Official cash rate (OCR) % 3.50 3.50 3.50 3.50 3.50 3.50 3.50
90 day bank bill rate %[2] 3.67 3.69 3.71 3.68 3.67 3.67 3.67
10 year govt bond rate %[2] 4.37 4.20 4.20 4.04 4.03 3.78 3.47

Confidence Indicators/Surveys

ANZ Bank - business confidence net % 39.7 24.4 13.4 26.5 31.5 30.4 ...
ANZ Bank - activity outlook net % 45.1 36.6 37.0 37.8 41.7 37.3 ...
ANZ-Roy Morgan - consumer confidence net % 132.7 125.5 127.7 123.4 121.8 126.5 128.9
Performance of Manufacturing Index Index 53.7 56.9 58.4 58.7 55.6 57.7 ...
Performance of Services Index Index 58.6 57.6 57.7 56.8 54.7 56.5 ...

 

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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