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Monthly Economic Indicators

New Zealand Key Economic Data

Quarterly Indicators

Quarterly Indicators
    2008Q4 2009Q1 2009Q2 2009Q3 2009Q4 2010Q1 2010Q2

Gross Domestic Product (GDP)

Real production GDP qtr % chg[1] -1.1 -0.8 0.1 0.3 0.9 0.6 ...
ann ave % chg -0.2 -1.5 -2.2 -2.4 -1.6 -0.4 ...
Real private consumption qtr % chg[1] -0.3 -1.0 0.3 0.9 0.8 0.2 ...
ann ave % chg -0.3 -1.1 -1.4 -1.1 -0.5 0.6 ...
Real public consumption qtr % chg[1] 1.6 0.2 -1.0 0.6 1.1 1.6 ...
ann ave % chg 4.8 4.2 3.0 2.6 1.6 1.4 ...
Real residential investment qtr % chg[1] -14.4 0.5 -2.2 -3.9 4.7 0.6 ...
ann ave % chg -18.2 -22.8 -24.4 -23.9 -16.8 -11.5 ...
Real non-residential investment qtr % chg[1] -2.5 -7.8 2.5 -2.5 -3.0 0.9 ...
ann ave % chg 2.1 -1.2 -6.5 -8.6 -10.3 -8.9 ...
Export volumes qtr % chg[1] -2.5 0.2 4.5 0.1 -0.7 1.4 ...
ann ave % chg -1.4 -3.4 -4.1 -3.2 0.0 2.9 ...
Import volumes qtr % chg[1] -7.4 -7.4 -2.9 1.5 5.8 1.8 ...
ann ave % chg 1.9 -4.7 -12.4 -16.5 -14.9 -9.6 ...
Nominal GDP - expenditure basis ann ave % chg 3.2 1.7 1.2 1.2 1.2 1.7 ...
Real GDP per capita ann ave % chg -1.1 -2.4 -3.1 -3.4 -2.7 -1.6 ...
Real Gross National Disposable Income ann ave % chg 1.3 -1.0 -1.6 -1.3 -0.9 1.2 ...

External Trade

Current account balance (annual) NZ$ millions -15968 -14568 -10371 -5896 -5314 -4457 ...
% of GDP -8.7 -7.9 -5.6 -3.2 -2.9 -2.4 ...
Investment income balance (annual) NZ$ millions -13721 -13035 -10793 -8146 -8144 -7628 ...
Merchandise terms of trade qtr % chg -1 -2.7 -9.4 -1.6 5.8 5.8 ...
ann % chg 1.8 -5 -13.5 -14.1 -8.2 -0.2 ...

Prices

CPI inflation qtr % chg -0.5 0.3 0.6 1.3 -0.2 0.4 ...
ann % chg 3.4 3.0 1.9 1.7 2.0 2.0 ...
Tradable inflation ann % chg 2.3 1.7 0.2 -0.1 1.5 2.0 ...
Non-tradable inflation ann % chg 4.3 3.8 3.3 3.0 2.3 2.1 ...
GDP deflator ann % chg 2.6 2.6 3.3 2.5 -0.1 1.0 ...
Consumption deflator ann % chg 4.1 3.9 3.0 2.0 1.3 1.0 ...

Labour Market

Employment (HLFS) qtr % chg[1] 0.7 -1.3 -0.5 -0.7 0.0 1.0 ...
ann % chg[1] 1.0 0.7 -0.9 -1.8 -2.4 -0.1 ...
Unemployment rate %[1] 4.6 5.1 5.9 6.5 7.1 6.0 ...
Participation rate %[1] 69.0 68.4 68.4 68.0 68.1 68.1 ...
LCI salary & wage rates - total (adjusted)[5] qtr % chg 0.7 0.6 0.3 0.5 0.4 0.3 ...
ann % chg 3.6 3.4 2.9 2.1 1.8 1.5 ...
LCI salary & wage rates - total (unadjusted)[5] qtr % chg 1.4 0.8 0.6 0.9 0.5 0.5 ...
ann % chg 5.6 5.2 4.6 3.8 2.9 2.5 ...
QES average hourly earnings - total[5] qtr % chg 0.9 1.4 0.7 2.1 -0.2 -0.4 ...
ann % chg 5.4 5.3 4.5 5.1 4.0 2.2 ...
Labour productivity[6] ann ave % chg 0.2 -1.8 -1.4 -0.8 0.5 2.2 ...

Confidence Indicators/Surveys

WMM - consumer confidence[3] Index 101 96 106 120 117 115 119
QSBO - general business situation[4] net % -64.4 -64.6 -24.8 35.6 30.7 21.9 ...
QSBO - own activity outlook[4] net % -40.9 -38.7 -13.1 23.0 10.8 14.5 ...

Monthly Indicators

Monthly Indicators
    2009M12 2010M 1 2010M 2 2010M 3 2010M 4 2010M 5 2010M 6

External Sector

Merchandise trade - exports mth % chg[1] 4.1 10.9 -4.9 3.8 3.5 -1.1 ...
ann % chg[1] -11.4 -0.9 -3.5 0.6 8.9 6.6 ...
Merchandise trade - imports mth % chg[1] 7.0 -3.5 5.9 2.0 -4.1 6.0 ...
ann % chg[1] -18.3 -11.0 1.4 -4.5 -0.6 11.2 ...
Merchandise trade balance (12 month total) NZ$ million -549 -176 -330 -161 182 91 ...
Visitor arrivals number[1] 216500 210750 206230 207940 204110 206150 ...
Visitor departures number[1] 211850 219410 210310 207240 206880 213560 ...

Housing

Dwelling consents - residential mth % chg[1] -3.8 -2.7 6.1 -0.2 8.3 -9.5 ...
ann % chg[1] 22.7 35.2 29.9 33.4 32.0 11.1 ...
House sales - dwellings mth % chg[1] -0.4 -17.4 10.9 1.4 2.8 -3.6 ...
ann % chg[1] 14.8 -1.0 -3.6 -7.6 -16.8 -16.3 ...
REINZ - house price index mth % chg -0.9 -1.6 0.4 1.7 -0.4 -1.4 ...
ann % chg 6.4 6.9 5.5 6.8 6.2 2.3 ...

Private Consumption

Core retail sales mth % chg[1] -2.0 0.3 -0.7 1.0 -0.2 ... ...
ann % chg[1] 1.5 1.6 0.7 1.4 1.3 ... ...
Total retail sales mth % chg[1] -0.5 0.7 -0.5 0.5 -0.3 ... ...
ann % chg[1] 1.8 3.6 2.3 3.2 2.4 ... ...
New car registrations mth % chg[1] 6.9 -0.7 0.6 4.8 2.7 -3.7 ...
ann % chg 0.3 15.9 31.4 31.7 40.5 30.5 ...
Electronic card transactions - total retail mth % chg[1] 0.7 0.4 -0.5 2.4 -2.2 0.4 ...
ann % chg 4.7 3.8 3.5 6.1 4.0 2.3 ...

Migration

Permanent & long-term arrivals number[1] 7050 7100 6660 6810 6530 6370 ...
Permanent & long-term departures number[1] 5360 5260 5660 5870 5800 6120 ...
Net PLT migration (12 month total) number 21253 22588 21618 20973 19954 17967 ...

Commodity Prices

Brent oil price US$/Barrel 74.79 76.60 73.90 79.52 85.16 76.13 75.24
WTI oil price US$/Barrel 74.63 78.42 76.31 81.24 84.50 73.84 75.35
ANZ NZ commodity price index mth % chg 4.2 -1.3 7.8 0.4 4.2 3.5 -0.2
ann % chg 2.5 5.7 11.7 16.0 24.3 30.3 37.3
ANZ world commodity price index mth % chg 2.6 0.4 4.0 1.8 5.4 2.8 -1.2
ann % chg 31.0 37.4 49.8 50.9 55.1 55.0 53.3

Financial Markets

NZD/USD $[2] 0.7162 0.7277 0.6974 0.7032 0.7123 0.6992 0.6928
NZD/AUD $[2] 0.7929 0.7959 0.7868 0.7712 0.7685 0.8019 0.8105
Trade weighted index (TWI) June 1979 = 100[2] 64.70 66.10 64.60 65.10 66.10 67.00 67.10
Official cash rate (OCR) % 2.50 2.50 2.50 2.50 2.50 2.50 2.75
90 day bank bill rate %[2] 2.78 2.78 2.73 2.67 2.69 2.89 3.07
10 year govt bond rate %[2] 6.02 6.00 5.86 5.86 5.96 5.73 5.51

Confidence Indicators/Surveys

National Bank - business confidence net % 38.5 45.7 50.1 42.5 49.5 48.2 40.2
National Bank - activity outlook net % 36.9 41.0 41.9 38.6 43.0 45.3 38.5
ANZ-Roy Morgan - consumer confidence net % 118.6 131.4 123.6 121.8 121.9 126 122.0

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, National Bank of New Zealand, NZIER, ANZ, Datastream, Westpac McDermott Miller.

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