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Monthly Economic Indicators

New Zealand Key Economic Data

2 July 2012

Quarterly Indicators

    2010Q4 2011Q1 2011Q2 2011Q3 2011Q4 2012Q1 2012Q2
Gross Domestic Product (GDP)
Real production GDP qtr % chg[1] -0.0 0.6 0.4 0.4 0.4 1.1 ...
ann ave % chg 1.8 1.7 1.3 1.2 1.4 1.7 ...
Real private consumption qtr % chg[1] -0.4 0.2 0.9 1.5 0.1 0.1 ...
ann ave % chg 2.3 1.6 0.8 1 1.5 2 ...
Real public consumption qtr % chg[1] 0.6 0.1 0.1 0.5 -0.7 0.5 ...
ann ave % chg 0.6 0.3 0 0.3 0.2 0.3 ...
Real residential investment qtr % chg[1] -6.5 -2.2 -8.4 1 4.2 -0.5 ...
ann ave % chg 3.8 3.8 -4.9 -11.1 -11.7 -11.9 ...
Real non-residential investment qtr % chg[1] 4.8 1.4 -2.7 -0.7 0.7 2.1 ...
ann ave % chg 1.7 6.9 10.6 10 5.8 2.4 ...
Export volumes qtr % chg[1] -0.5 1.5 -0.5 0.7 2.9 -1.7 ...
ann ave % chg 3.2 2.1 1.3 1.2 2 1.9 ...
Import volumes qtr % chg[1] 7.2 -2.8 2 2.8 -2.2 4.1 ...
ann ave % chg 10.6 11.1 11 10.3 6.4 6 ...
Nominal GDP - expenditure basis ann ave % chg 5 4.8 4.9 4.6 3.4 3.1 ...
Real GDP per capita ann ave % chg 0.6 0.5 0.2 0.1 0.4 0.8 ...
Real Gross National Disposable Income ann ave % chg 2.9 2.5 2.9 3 2.1 1.7 ...
External Trade
Current account balance (annual) NZ$ millions -6787 -7196 -7396 -8827 -8338 -9738 ...
% of GDP -3.5 -3.7 -3.7 -4.4 -4.2 -4.8 ...
Income balance (annual) NZ$ millions -9538 -9649 -9501 -10363 -10405 -10633 ...
Merchandise terms of trade qtr % chg 0.8 0.8 2.4 -0.6 -1.5 -2.3 ...
ann % chg 12.3 6.7 7.1 3.4 1 -2.1 ...
Prices
CPI inflation qtr % chg 2.3 0.8 1 0.4 -0.3 0.5 ...
ann % chg 4 4.5 5.3 4.6 1.8 1.6 ...
Tradable inflation ann % chg 3.3 3.7 5.5 4.6 1.1 0.3 ...
Non-tradable inflation ann % chg 4.6 5.2 5.2 4.5 2.5 2.5 ...
GDP deflator ann % chg 7 4.3 4.5 3.1 0.6 0.5 ...
Consumption deflator ann % chg 3.3 3.6 4.6 3.7 1.7 1.4 ...
Labour Market
Employment (HLFS) qtr % chg[1] -0.3 1.1 0.1 0.2 0.2 0.4 ...
ann % chg[1] 1.3 1.7 2 1.1 1.6 0.9 ...
Unemployment rate %[1] 6.7 6.6 6.5 6.6 6.4 6.7 ...
Participation rate %[1] 68 68.6 68.4 68.4 68.2 68.8 ...
LCI salary and wages - total (adjusted)[5] qtr % chg 0.5 0.4 0.5 0.6 0.6 0.4 ...
ann % chg 1.7 1.8 1.9 2 2 2 ...
QES average hourly earnings - total[5] qtr % chg 0.5 0.4 1.1 1.2 0.1 1.4 ...
ann % chg 1.8 2.6 3 3.2 2.8 3.8 ...
Labour productivity[6] ann ave % chg 0.3 -0.3 -0.7 -0.8 -0.1 0.2 ...
Retail Sales
Core retail sales volume qtr % chg[1] -0.3 1.4 1 2.6 2.2 -1.4 ...
ann % chg 0.3 1.4 1.9 4.5 7.3 4.3 ...
Total retail sales volume qtr % chg[1] -0.6 1.4 0.9 2.3 1.6 -0.6 ...
ann % chg -0.1 0.7 1.1 3.9 6.4 4.2 ...
Confidence Indicators/Surveys                
WMM - consumer confidence[3] Index 108 98 112 112 101 102 100
QSBO - general business situation[4] net % 9.7 -15.7 24.9 11.8 4.8 23.4 ...
QSBO - own activity outlook[4] net % 18.2 5.7 17.5 15.6 18 25.1 ...

Monthly Indicators

    2011M12 2012M01 2012M02 2012M03 2012M04 2012M05 2012M06
External Sector
Merchandise trade - exports mth % chg[1] 5.8 -1.7 -10.6 1.8 -1.1 -1.2 ...
ann % chg[1] 11.9 12.7 -6.3 -8.9 -17.4 -4.4 ...
Merchandise trade - imports mth % chg[1] -5.9 9 -12 8.1 -3.5 0.8 ...
ann % chg[1] -1.6 17.9 -7.3 -0.4 0.2 1.1 ...
Merchandise trade balance (12 month total) NZ$ million 806 637 663 266 -557 -805 ...
Visitor arrivals number[1] 219,990 213,520 203,850 210,710 212,680 210,610 ...
Visitor departures number[1] 220,180 218,880 215,120 209,060 218,350 205,810 ...
Housing
Dwelling consents - residential mth % chg[1] 2.3 9.2 -6.2 19.6 -7.2 ... ...
ann % chg[1] 17.8 19.7 20.8 46.7 34.5 ... ...
House sales - dwellings mth % chg[1] 4.6 1 7.4 -3.7 -8 14.8 ...
ann % chg[1] 20.6 26.7 37.3 25.2 13.2 23.5 ...
REINZ - house price index mth % chg -0.1 -1.4 0.8 1.9 -0.3 1.7 ...
ann % chg 3.1 4.3 2.7 4.2 2.7 6.4 ...
Private Consumption
Electronic card transactions - total retail mth % chg[1] -0.2 1.1 -0.6 0.3 1 0.9 ...
ann % chg 7.2 4.7 8.2 5.6 1.2 6.1 ...
New car registrations mth % chg[1] 3.8 1.9 -1.9 -3.3 3.4 3.4 ...
ann % chg 4.2 4.5 2.3 -1 8.6 10.3 ...
Migration
Permanent & long-term arrivals number[1] 6700 6600 7180 7540 6430 7050 ...
Permanent & long-term departures number[1] 7250 7240 7560 7290 7230 6890 ...
Net PLT migration (12 month total) number -1855 -3134 -4068 -3383 -4006 -3653 ...
Commodity Prices
Brent oil price US$/Barrel 108.19 110.45 119.43 125.38 120.08 110.24 95.47
WTI oil price US$/Barrel 98.57 100.24 102.25 106.19 103.33 94.7 82.52
ANZ NZ commodity price index mth % chg -0.5 -2.8 -4.1 -0.2 -4 0.8 ...
ann % chg 0.7 -4.7 -11.1 -17.9 -17.6 -15.8 ...
ANZ world commodity price index mth % chg -0.6 1.2 -0.1 -1.7 -4.5 -4.2 ...
ann % chg 2.6 -0.2 -2.9 -8.9 -13.9 -17.3 ...
Financial Markets
NZD/USD $[2] 0.7697 0.8007 0.8343 0.8208 0.819 0.7762 0.779
NZD/AUD $[2] 0.7604 0.7691 0.778 0.7779 0.7908 0.7766 0.7809
Trade weighted index (TWI) June 1979 = 100[2] 68.61 71.23 73.36 73 73 70.04 70.76
Official cash rate (OCR) % 2.5 2.5 2.5 2.5 2.5 2.5 2.5
90 day bank bill rate %[2] 2.69 2.74 2.75 2.74 2.74 2.59 2.58
10 year govt bond rate %[2] 3.91 3.87 3.99 4.17 3.98 3.66 3.42
Confidence Indicators/Surveys
National Bank - business confidence net % 16.9 ... 28 33.8 35.8 27.1 12.6
National Bank - activity outlook net % 25.7 ... 31.2 38.8 36.1 34.9 20.8
ANZ-Roy Morgan - consumer confidence net % 108.4 116.1 113.3 110.2 114 113.9 105.8

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]One News Colmar Brunton
  • [6] Ordinary time
  • [7] 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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