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Monthly Economic Indicators

New Zealand Key Economic Data

Quarterly Indicators

Quarterly Indicators
    2007Q4 2008Q1 2008Q1 2008Q3 2008Q4 2009Q1 2009Q2
Gross Domestic Product (GDP)
Real production GDP qtr % chg[1] 0.9 -0.3 -0.2 -0.5 -1.0 -1.0 ...
ann ave % chg 3.2 3.1 2.5 1.6 0.2 -1.0 ...
Real private consumption qtr % chg[1] 0.5 -0.4 -0.2 -0.1 -0.2 -1.3 ...
ann ave % chg 4.1 3.3 2.3 1.1 0.0 -0.7 ...
Real public consumption qtr % chg[1] 0.1 1.6 0.4 0.4 1.5 0.4 ...
ann ave % chg 3.9 4.3 4.5 3.9 3.9 3.4 ...
Real residential investment qtr % chg[1] -0.9 -6.2 -7.6 -7.1 -14.2 -0.3 ...
ann ave % chg 5.1 4.3 -2.0 -9.7 -18.6 -23.4 ...
Real non-residential investment qtr % chg[1] 3.1 -0.7 4.8 -8.1 -1.7 -7.3 ...
ann ave % chg 4.9 4.2 4.4 3.2 0.1 -3.3 ...
Export volumes qtr % chg[1] 4.8 -2.8 0.1 -3.0 -3.1 0.6 ...
ann ave % chg 3.8 2.9 2.7 2.4 -1.6 -3.4 ...
Import volumes qtr % chg[1] 4.0 1.1 3.2 -6.7 -6.5 -8.6 ...
ann ave % chg 8.6 9.6 9.7 7.7 2.0 -4.4 ...
Nominal GDP - expenditure basis ann ave % chg 7.2 7.2 5.8 4.5 2.6 1.0 ...
Real GDP per capita ann ave % chg 2.1 2.1 1.5 0.7 -0.8 -2.0 ...
Real Gross National Disposable Income ann ave % chg 4.7 5.1 4.7 4.4 1.8 -0.8 ...
External Trade
Current account balance (annual) NZ$ millions -14372 -14211 -14982 -15528 -16108 -15246 ...
% of GDP -8.2 -8.0 -8.4 -8.7 -9.0 -8.5 ...
Investment income balance (annual) NZ$ millions -12837 -13388 -13861 -13672 -13620 -13410 ...
Merchandise terms of trade qtr % chg 2.9 4.2 -0.4 -1 -1 -3 ...
ann % chg 8.8 11.6 10.7 5.8 1.8 -5.2 ...
Prices
CPI inflation qtr % chg 1.2 0.7 1.6 1.5 -0.5 0.3 0.6
ann % chg 3.2 3.4 4.0 5.1 3.4 3.0 1.9
Tradable inflation ann % chg 2.8 3.4 4.8 6.3 2.3 1.7 0.2
Non-tradable inflation ann % chg 3.5 3.5 3.4 4.1 4.3 3.8 3.3
GDP deflator ann % chg 5.9 6.2 3.7 2.1 2.4 2.4 ...
Consumption deflator ann % chg 1.9 2.6 3.3 4.2 4.0 3.8 ...
Labour Market
Employment (HLFS) qtr % chg[1] 0.7 -1.0 1.2 0.2 0.6 -1.1 ...
ann % chg[1] 2.3 -0.2 0.8 1.1 0.9 0.8 ...
Unemployment rate %[1] 3.5 3.8 4.0 4.3 4.7 5.0 ...
Participation rate %[1] 68.4 67.7 68.5 68.6 69.1 68.4 ...
LCI salary & wage rates - total (adjusted)[5] qtr % chg 1.0 0.8 0.8 1.2 0.7 0.6 ...
ann % chg 3.2 3.4 3.6 3.9 3.6 3.4 ...
LCI salary & wage rates - total (unadjusted)[5] qtr % chg 1.4 1.2 1.2 1.7 1.4 0.8 ...
ann % chg 4.9 5.3 5.4 5.6 5.6 5.2 ...
QES average hourly earnings - total[5] qtr % chg 1.0 1.5 1.4 1.5 0.9 1.4 ...
ann % chg 4.2 4.6 5.3 5.5 5.4 5.3 ...
Labour productivity[6] ann ave % chg 2.5 3.1 2.5 1.6 0.6 -1.4 ...
Confidence Indicators/Surveys
WMM - consumer confidence[3] Index 110 97 82 105 101 96 106
QSBO - general business situation[4] net % -26.4 -64.1 -63.7 -19.3 -64.4 -64.6 -24.8
QSBO - own activity outlook[4] net % 13.9 -9.7 -22.9 -8.3 -40.9 -38.7 -13.1

Monthly Indicators

Monthly Indicators
    2009M1 2006M2 2009M3 2009M4 2009M5 2009M6 2009M7
External Sector
Merchandise trade - exports mth % chg[1] -0.7 -3.1 -0.1 -3.7 -1.4 -1.6 ...
ann % chg[1] 2.7 -6.6 17.8 -4.1 6.2 -10.5 ...
Merchandise trade - imports mth % chg[1] -16.2 -4.4 12.4 -12.1 -5.4 20.3 ...
ann % chg[1] -3.5 -14.0 4.3 -19.7 -21.8 -4.8 ...
Merchandise trade balance (12 month total) NZ$ million -5405 -5165 -4684 -4049 -2973 -3176 ...
Visitor arrivals number[1] 195410 201300 200570 204930 204740 197010 ...
Visitor departures number[1] 202780 199870 200590 202400 207740 201550 ...
Housing
Dwelling consents - residential mth % chg[1] -12.7 12.2 -0.8 11.3 3.0 -9.5 ...
ann % chg[1] -51.4 -39.9 -34.3 -56.6 -23.1 -24.2 ...
House sales - dwellings mth % chg[1] -5.6 13.2 6.7 22.7 -12.7 9.5 ...
ann % chg[1] -28.7 -17.4 30.2 39.8 44.0 40.1 ...
REINZ - median dwelling price mth % chg 0.3 0.8 -0.6 1.1 -0.3 1.1 ...
ann % chg -4.3 -2.1 -4.0 -1.5 -2.2 0.1 ...
Private Consumption
Core retail sales mth % chg[1] 0.2 -0.1 0.5 0.0 1.6 ... ...
ann % chg[1] 1.4 1.3 2.3 2.0 3.4 ... ...
Total retail sales mth % chg[1] -1.2 0.2 -0.1 0.5 0.8 ... ...
ann % chg[1] -3.9 -3.0 -2.1 -2.3 -1.0 ... ...
New car registrations mth % chg[1] -14.3 -15.1 8.2 -2.1 -3.3 5.4 ...
ann % chg -36.5 -44.6 -32.9 -41.0 -33.3 -29.6 ...
Electronic card transactions - total retail mth % chg[1] -0.6 0.6 0.4 0.2 0.7 -1.0 ...
ann % chg 1.2 -3.5 -0.3 1.2 -0.5 0.3 ...
Migration
Permanent & long-term arrivals number[1] 7440 7560 7470 7480 7530 6800 ...
Permanent & long-term departures number[1] 6570 5920 5750 5370 4950 5070 ...
Net PLT migration (12 month total) number 4538 6160 7482 9176 11202 12515 ...
Commodity Prices
Brent oil price US$/Barrel 43.17 42.91 46.58 50.52 57.50 68.58 64.43
WTI oil price US$/Barrel 41.63 39.08 47.98 49.91 59.26 69.67 63.83
ANZ NZ commodity price index mth % chg -4.3 1.9 -3.4 -2.7 -1.4 -5.0 ...
ann % chg -2.6 1.5 -4.0 -7.6 -11.2 -17.3 ...
ANZ world commodity price index mth % chg -4.3 -4.6 1.0 2.6 2.8 0.2 ...
ann % chg -26.5 -30.7 -31.4 -29.4 -28.1 -27.9 ...
Financial Markets
NZD/USD $[2] 0.5526 0.5151 0.5308 0.5709 0.5989 0.6374 0.6433
NZD/AUD $[2] 0.8154 0.7938 0.7979 0.8006 0.7855 0.7953 0.8016
Trade weighted index (TWI) June 1979 = 100[2] 54.86 52.31 53.84 56.87 57.95 60.32 60.57
Official cash rate (OCR) % 3.50 3.50 3.00 2.50 2.50 2.50 2.50
90 day bank bill rate %[2] 4.38 3.4 3.24 3.12 2.82 2.78 2.79
10 year govt bond rate %[2] 4.49 4.53 4.77 5.24 5.59 5.97 5.75
Confidence Indicators/Surveys
National Bank - business confidence net % -36.0 -41.2 -39.3 -14.5 1.9 5.5 18.7
National Bank - activity outlook net % -21.7 -20.1 -21.2 -3.8 3.8 8.3 12.6
Roy Morgan - consumer confidence net % 103.7 97.1 93.4 104.6 105.8 103.4 107.8

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, National Bank of New Zealand, NZIER, ANZ, Datastream, Westpac McDermott Miller, One News Colmar Brunton.

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