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Monthly Economic Indicators

New Zealand Key Economic Data

5 August 2013

Quarterly Indicators

Quarterly Indicators
    2011Q4 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1 2013Q2

Gross Domestic Product (GDP)

Real production GDP qtr % chg[1] 0.3 1.1 0.3 0.3 1.5 0.3 ...
ann ave % chg 1.4 1.9 2.4 2.5 2.7 2.5 ...
Real private consumption qtr % chg[1] 0.3 0.6 0.3 0.1 1.5 0.4 ...
ann ave % chg 2.0 2.5 2.7 2.4 2.3 2.2 ...
Real public consumption qtr % chg[1] 0.5 -0.9 1.0 0.3 -0.6 -0.2 ...
ann ave % chg 1.9 1.8 1.6 1.2 0.6 0.6 ...
Real residential investment qtr % chg[1] 5.1 0.7 7.4 5.2 2.2 9.6 ...
ann ave % chg -11.2 -10.8 -2.2 6.6 12.1 19.2 ...
Real non-residential investment qtr % chg[1] -0.2 3.4 3.3 -4.3 2.2 -2.2 ...
ann ave % chg 7.6 6.0 5.8 4.5 5.0 3.7 ...
Export volumes qtr % chg[1] 4.2 -2.7 -1.2 4.2 1.4 2.5 ...
ann ave % chg 2.7 2.6 2.4 3.0 2.0 3.4 ...
Import volumes qtr % chg[1] -1.3 2.8 -2.9 2.1 -0.7 2.3 ...
ann ave % chg 6.5 6.1 3.7 1.5 1.9 0.5 ...
Nominal GDP - expenditure basis ann ave % chg 3.9 3.8 4.1 3.0 2.4 2.7 ...
Real GDP per capita ann ave % chg 0.4 1.0 1.6 1.7 2.0 1.9 ...
Real Gross National Disposable Income ann ave % chg 1.7 2.2 1.4 1.5 1.3 1.0 ...

External Trade

Current account balance (annual) NZ$ millions -8,268 -9,033 -10,087 -9,861 -10,486 -10,077 ...
% of GDP -4.0 -4.4 -4.8 -4.7 -5.0 -4.8 ...
Investment income balance (annual) NZ$ millions -10,750 -10,443 -10,899 -10,226 -9,824 -10,030 ...
Merchandise terms of trade qtr % chg -1.5 -2.3 -2.5 -3.2 -1.2 4.2 ...
ann % chg 1.0 -2.1 -6.7 -9.2 -8.9 -2.9 ...

Prices

CPI inflation qtr % chg -0.3 0.5 0.3 0.3 -0.2 0.4 0.2
ann % chg 1.8 1.6 1.0 0.8 0.9 0.9 0.7
Tradable inflation ann % chg 1.1 0.3 -1.1 -1.2 -1.0 -1.1 -1.6
Non-tradable inflation ann % chg 2.5 2.5 2.4 2.3 2.5 2.4 2.5
GDP deflator ann % chg 0.4 -0.2 1.7 -1.5 -2.7 0.9 ...
Consumption deflator ann % chg 1.6 1.3 0.9 0.7 0.5 0.4 ...

Labour Market

Employment (HLFS) qtr % chg[1] 0.5 0.0 0.0 -0.4 -0.9 1.7 ...
ann % chg[1] 1.6 0.9 0.6 0.0 -1.3 0.4 ...
Unemployment rate %[1] 6.3 6.7 6.8 7.3 6.8 6.2 ...
Participation rate %[1] 68.4 68.6 68.4 68.4 67.2 67.8 ...
LCI salary & wage rates - total (adjusted)[5] qtr % chg 0.6 0.4 0.5 0.5 0.5 0.4 ...
ann % chg 2.0 2.0 2.0 1.9 1.8 1.8 ...
QES average hourly earnings - total[5] qtr % chg 0.1 1.4 0.1 1.1 -0.1 0.8 ...
ann % chg 2.8 3.8 2.9 2.8 2.6 2.1 ...
Labour productivity[6] ann ave % chg -0.1 0.7 1.7 2.8 3.4 2.6 ...

Retail Sales

Core retail sales volume qtr % chg[1] 1.8 -0.3 0.7 0.1 1.2 0.6 ...
ann % chg 6.4 4.2 4.1 1.7 1.8 2.5 ...
Total retail sales volume qtr % chg[1] 1.4 0.2 1.2 -0.2 1.9 0.5 ...
ann % chg 5.7 4.2 4.7 2.2 3.2 3.5 ...

Confidence Indicators/Surveys

               
WMM - consumer confidence[3] Index 101 102 100 103 111 111 117
QSBO - general business situation[4] net % 0.1 13.0 -4.1 8.0 19.8 23.0 31.9
QSBO - own activity outlook[4] net % 9.9 16.9 8.1 17.7 18.7 18.1 17.8

Monthly Indicators

Monthly Indicators
    2013M1 2013M02 2013M03 2013M04 2013M05 2013M06 2013M07

External Sector

Merchandise trade - exports mth % chg[1] 1.6 3.1 -1.0 1.2 -0.8 -0.3 ...
ann % chg[1] -10.2 7.6 4.8 1.9 -8.0 -3.9 ...
Merchandise trade - imports mth % chg[1] -14.6 15.4 0.7 -8.8 -3.3 13.5 ...
ann % chg[1] -6.3 1.6 -8.6 6.8 -3.3 -7.4 ...
Merchandise trade balance (12 month total) NZ$ million -1288 -1066 -521 -686 -902 -777 ...
Visitor arrivals number[1] 214,270 224,410 227,220 231,210 229,650 226,290 ...
Visitor departures number[1] 217,800 220,630 229,910 234,330 232,060 238,720 ...

Housing

Dwelling consents - residential mth % chg[1] -0.6 5.2 -9.6 20.6 1.0 -4.0 ...
ann % chg[1] 19.5 28.1 -5.4 42.7 43.7 16.4 ...
House sales - dwellings mth % chg[1] 10.9 -4.0 -0.4 2.5 -2.5 -7.0 ...
ann % chg[1] 21.1 7.5 10.9 25.2 7.5 0.0 ...
REINZ - house price index mth % chg -1.0 1.6 2.4 0.8 0.7 0.0 ...
ann % chg 7.2 8.1 8.6 9.8 8.7 8.4 ...

Private Consumption

Electronic card transactions - total retail mth % chg[1] 0.3 0.7 -0.4 0.9 0.7 1.1 ...
ann % chg 5.8 2.5 4.2 5.2 5.4 5.1 ...
New car registrations mth % chg[1] 3.4 1.2 0.0 7.7 1.5 -0.2 ...
ann % chg 6.5 9.4 11.2 17.8 16.3 15.6 ...

Migration

Permanent & long-term arrivals number[1] 7,070 7,200 7,740 7,830 7,850 8,330 ...
Permanent & long-term departures number[1] 6,660 6,420 6,430 6,200 6,060 6,010 ...
Net PLT migration (12 month total) number 12 1,195 2,542 4,776 6,242 7,907 ...

Commodity Prices

Brent oil price US$/Barrel 113.02 116.19 108.49 102.53 102.52 102.92 104.61
WTI oil price US$/Barrel 94.69 95.32 93.05 92.07 94.80 95.80 107.89
ANZ NZ commodity price index mth % chg -0.5 0.4 8.5 10.2 0.7 0.9 ...
ann % chg -10.2 -5.9 2.2 17.4 17.3 22.5 ...
ANZ world commodity price index mth % chg 0.3 1.1 7.4 12.6 -1.6 -3.7 ...
ann % chg -6.1 -4.9 3.9 22.5 26.1 24.5 ...

Financial Markets

NZD/USD $[2] 0.8375 0.8389 0.8279 0.8473 0.8267 0.7908 0.7885
NZD/AUD $[2] 0.797 0.8136 0.8013 0.8158 0.8325 0.838 0.8594
Trade weighted index (TWI) June 1979 = 100[2] 75.27 76.26 76.15 78.05 77.31 74.00 74.78
Official cash rate (OCR) % 2.50 2.50 2.50 2.50 2.50 2.50 2.50
90 day bank bill rate %[2] 2.66 2.66 2.64 2.65 2.64 2.64 2.64
10 year govt bond rate %[2] 3.56 3.81 3.72 3.34 3.37 3.84 4.23

Confidence Indicators/Surveys

ANZ Bank - business confidence net % ... 39.4 34.6 32 41.8 50.1 52.8
ANZ Bank - activity outlook net % ... 37.6 32.4 30 34.3 45.0 43.7
ANZ-Roy Morgan - consumer confidence net % 118.3 121.0 115.0 119.2 123.7 123.9 119.8
Performance of Manufacturing Index Index 55.5 56.3 53.7 54.8 59.0 54.7
Performance of Services Index Index 53.2 55.7 55.6 56.1 56.0 55.0

 

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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