The Treasury

Global Navigation

Personal tools

Treasury
Publication

Monthly Economic Indicators

New Zealand Key Economic Data

30 July 2015

Quarterly Indicators

Quarterly Indicators
    2013Q4 2014Q1 2014Q2 2014Q3 2014Q4 2015Q1 2015Q2

Gross Domestic Product (GDP)

Real production GDP qtr % chg[1] 0.5 1.1 0.7 1.0 0.7 0.2 ...
ann ave % chg 2.2 2.5 2.8 3.0 3.3 3.2 ...
Real private consumption qtr % chg[1] 0.9 0.4 1.2 1.4 0.7 0.7 ...
ann ave % chg 2.9 2.9 2.8 3.0 3.2 3.7 ...
Real public consumption qtr % chg[1] 0.5 1.2 0.5 0.8 0.6 0.2 ...
ann ave % chg 1.9 2.7 3.3 3.3 3.4 3.0 ...
Real residential investment qtr % chg[1] 0.2 10.3 0.0 -0.2 4.9 0.6 ...
ann ave % chg 16.6 16.6 18.0 16.0 16.2 12.3 ...
Real non-residential investment qtr % chg[1] -0.3 0.4 1.9 3.8 -1.3 -2.8 ...
ann ave % chg 6.2 8.4 8.7 7.4 6.2 4.6 ...
Export volumes qtr % chg[1] 2.5 2.6 -2.8 0.4 5.9 1.5 ...
ann ave % chg 1.0 0.3 0.6 2.0 3.3 3.9 ...
Import volumes qtr % chg[1] 0.2 2.0 2.9 0.3 2.8 1.0 ...
ann ave % chg 6.3 8.0 8.9 7.9 7.8 7.5 ...
Nominal GDP - expenditure basis ann ave % chg 5.4 6.8 8.1 7.6 5.5 3.9 ...
Real GDP per capita ann ave % chg 1.4 1.5 1.7 1.6 1.8 1.5 ...
Real Gross National Disposable Income ann ave % chg 4.4 5.8 6.3 5.9 4.5 2.9 ...

External Trade

Current account balance (annual) NZ$ millions -7,350 -6,005 -5,814 -6,093 -7,798 -8,604 ...
% of GDP -3.3 -2.6 -2.5 -2.6 -3.3 -3.6 ...
Investment income balance (annual) NZ$ millions -9,027 -9,338 -9,770 -9,956 -9,996 -9,706 ...
Merchandise terms of trade qtr % chg 2.5 1.8 0.1 -4.5 -2.4 1.4 ...
ann % chg 20.2 17.3 12.2 -0.3 -5.0 -5.4 ...

Prices

CPI inflation qtr % chg 0.1 0.3 0.3 0.3 -0.2 -0.3 0.4
ann % chg 1.6 1.5 1.6 1.0 0.8 0.1 0.3
Tradable inflation ann % chg -0.3 -0.6 0.1 -1.0 -1.3 -2.8 -2.0
Non-tradable inflation ann % chg 2.9 3.0 2.7 2.5 2.4 2.3 2.0
GDP deflator ann % chg 7.7 5.6 4.5 1.2 -2.1 -0.8 ...
Consumption deflator ann % chg 0.9 0.9 1.0 0.6 0.7 0.7 ...

Labour Market

Employment (HLFS) qtr % chg[1] 0.8 1.0 0.4 1.0 1.2 0.7 ...
ann % chg[1] 2.9 3.7 3.6 3.2 3.5 3.2 ...
Unemployment rate %[1] 6.1 6.0 5.7 5.5 5.8 5.8 ...
Participation rate %[1] 68.7 69.0 68.6 68.8 69.4 69.6 ...
LCI salary & wage rates - total (adjusted)[5] qtr % chg 0.5 0.3 0.5 0.5 0.5 0.3 ...
ann % chg 1.6 1.5 1.6 1.7 1.7 1.7 ...
QES average hourly earnings - total[5] qtr % chg 0.2 0.5 0.2 1.4 0.5 0.0 ...
ann % chg 2.9 2.5 2.5 2.3 2.6 2.1 ...
Labour productivity[6] ann ave % chg -0.7 -0.9 -0.9 -0.7 -0.3 0.0 ...

Retail Sales

Core retail sales volume qtr % chg[1] 1.0 0.9 1.3 1.5 1.9 2.9 ...
ann % chg 3.7 3.5 3.0 4.5 6.0 7.5 ...
Total retail sales volume qtr % chg[1] 1.1 0.9 1.3 1.6 1.9 2.7 ...
ann % chg 3.9 3.6 3.6 4.7 5.9 7.4 ...

Confidence Indicators/Surveys

               
WMM - consumer confidence[3] Index 120 122 121 117 115 117 113
QSBO - general business situation[4] net % 52.8 51.7 31.7 19.0 23.6 23.3 5.1
QSBO - own activity outlook[4] net % 30.8 33.2 29.7 33.9 26.7 25.0 9.3

Monthly Indicators

Monthly Indicators
    2015M01 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07

External Sector

Merchandise trade - exports mth % chg[1] -8.9 4.9 1.3 -3.2 0.2 5.0 ...
ann % chg[1] -9.5 -14.2 -2.5 -6.2 -4.7 1.3 ...
Merchandise trade - imports mth % chg[1] 2.4 -3.8 5.9 -2.4 3.7 -4.4 ...
ann % chg[1] -4.1 1.8 2.8 0.3 -7.5 9.0 ...
Merchandise trade balance (12 month total) NZ$ million -1416 -2129 -2372 -2655 -2549 -2848 ...
Visitor arrivals number[1] 248,690 266,890 255,770 259,380 259,550 259,030 ...
Visitor departures number[1] 251,980 259,880 269,380 259,660 268,180 266,600 ...

Housing

Dwelling consents - residential mth % chg[1] -2.4 -5.5 10.0 -1.1 0.0 -4.1 ...
ann % chg[1] 3.6 -0.6 13.6 1.4 2.2 2.0 ...
House sales - dwellings mth % chg[1] -15.7 4.0 4.7 0.1 -1.4 5.1 ...
ann % chg[1] 2.6 12.6 20.3 27.6 21.6 29.1 ...
REINZ - house price index mth % chg 1.8 1.1 1.1 1.3 2.0 2.3 ...
ann % chg 8.5 7.1 8.5 9.3 11.8 14.8 ...

Private Consumption

Electronic card transactions - total retail mth % chg[1] 0.0 1.0 0.7 -0.6 1.3 0.5 ...
ann % chg 4.5 4.0 3.7 3.9 3.2 5.0 ...
New car registrations mth % chg[1] -0.7 -0.3 2.5 -1.5 -0.2 5.3 ...
ann % chg 17.1 12.1 11.8 11.2 6.8 11.2 ...

Migration

Permanent & long-term arrivals number[1] 10,070 9,560 9,890 9,620 9,910 9,800 ...
Permanent & long-term departures number[1] 4,600 4,720 4,880 4,850 4,830 5,000 ...
Net PLT migration (12 month total) number 53,797 55,121 56,275 56,813 57,822 58,259 ...

Commodity Prices

Brent oil price US$/Barrel 47.76 58.10 55.89 59.52 64.08 61.48 56.93
WTI oil price US$/Barrel 47.22 50.58 47.82 54.45 59.27 59.82 51.22
ANZ NZ commodity price index mth % chg 0.1 9.7 1.5 -9.0 -2.9 2.9 ...
ann % chg -14.1 -6.5 -2.5 -6.9 -8.1 -4.3 ...
ANZ world commodity price index mth % chg -0.3 4.2 4.6 -7.4 -4.9 -3.1 ...
ann % chg -18.4 -15.8 -11.9 -15.3 -18.0 -19.7 ...

Financial Markets

NZD/USD $[2] 0.764 0.7444 0.7473 0.7583 0.7394 0.6990 0.6656
NZD/AUD $[2] 0.9465 0.9555 0.9658 0.9814 0.9368 0.9055 0.8955
Trade weighted index (TWI) June 1979 = 100[2] 78.18 77.16 78.27 79.17 76.49 72.97 70.41
Official cash rate (OCR) % 3.50 3.50 3.50 3.50 3.50 3.25 3.00
90 day bank bill rate %[2] 3.67 3.63 3.63 3.63 3.53 3.33 3.13
10 year govt bond rate %[2] 3.42 3.27 3.30 3.25 3.66 3.77 3.48

Confidence Indicators/Surveys

ANZ Bank - business confidence net % ... 34.4 35.8 30.2 15.7 -2.3 ...
ANZ Bank - activity outlook net % ... 40.9 42.2 41.3 32.6 23.6 ...
ANZ-Roy Morgan - consumer confidence net % 128.9 124.0 124.6 128.8 123.9 119.9 113.9
Performance of Manufacturing Index Index 51.4 56.3 54.6 52.1 52.0 55.2 ...
Performance of Services Index Index 57.8 56.0 57.6 56.7 58.1 58.2 ...

 

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

Page top