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Monthly Economic Indicators

New Zealand Key Economic Data

28 June 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 ...
ann % chg 1.8 1.6 1.0 0.8 0.9 0.9 ...
Tradable inflation ann % chg 1.1 0.3 -1.1 -1.2 -1.0 -1.1 ...
Non-tradable inflation ann % chg 2.5 2.5 2.4 2.3 2.5 2.4 ...
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 ...
QSBO - own activity outlook[4] net % 9.9 16.9 8.1 17.7 18.7 18.1 ...

Monthly Indicators

Monthly Indicators
    2012M12 2013M01 2013M02 2013M03 2013M04 2013M05 2013M06

External Sector

Merchandise trade - exports mth % chg[1] -6.7 1.6 3.2 -0.9 1.1 -1.2 ...
ann % chg[1] -4.2 -10.2 7.6 4.8 2.0 -7.8 ...
Merchandise trade - imports mth % chg[1] 5.8 -15.0 15.5 0.6 -8.8 -2.7 ...
ann % chg[1] -10.4 -6.3 1.6 -8.5 6.8 -3.9 ...
Merchandise trade balance (12 month total) NZ$ million -1155 -1288 -1066 -523 -685 -869 ...
Visitor arrivals number[1] 219,410 214,430 224,470 227,140 231,860 230,380 ...
Visitor departures number[1] 218,610 217,900 220,710 229,980 234,290 231,960 ...

Housing

Dwelling consents - residential mth % chg[1] 10.2 -0.6 5.0 -8.4 18.5 ... ...
ann % chg[1] 22.5 19.5 28.1 -5.4 42.7 ... ...
House sales - dwellings mth % chg[1] -6.8 10.9 -3.8 -0.1 3.5 -2.6 ...
ann % chg[1] 8.2 21.1 7.5 10.9 25.2 7.5 ...
REINZ - house price index mth % chg -0.6 -1.0 1.6 2.4 0.8 0.7 ...
ann % chg 6.7 7.2 8.1 8.6 9.8 8.7 ...

Private Consumption

Electronic card transactions - total retail mth % chg[1] 0.3 0.3 0.8 -0.3 0.8 0.5 ...
ann % chg 3.6 5.8 2.5 4.2 5.2 5.4 ...
New car registrations mth % chg[1] 0.1 3.5 1.3 0.1 7.7 1.6 ...
ann % chg 3.0 6.5 9.4 11.2 17.8 16.3 ...

Migration

Permanent & long-term arrivals number[1] 7,330 7,080 7,200 7,730 7,800 7,810 ...
Permanent & long-term departures number[1] 7,480 6,670 6,430 6,430 6,200 6,060 ...
Net PLT migration (12 month total) number -1,165 12 1,195 2,542 4,776 6,242 ...

Commodity Prices

Brent oil price US$/Barrel 109.56 113.02 116.19 108.49 102.53 102.52 102.96
WTI oil price US$/Barrel 88.25 94.69 95.32 93.05 92.07 94.80 95.69
ANZ NZ commodity price index mth % chg -0.1 -0.5 0.4 8.5 10.2 0.7 ...
ann % chg -12.3 -10.2 -5.9 2.2 17.4 17.3 ...
ANZ world commodity price index mth % chg 1.0 0.3 1.1 7.4 12.6 -1.6 ...
ann % chg -5.2 -6.1 -4.9 3.9 22.5 26.1 ...

Financial Markets

NZD/USD $[2] 0.8318 0.8375 0.8389 0.8279 0.8473 0.8267 0.7915
NZD/AUD $[2] 0.7943 0.797 0.8136 0.8013 0.8158 0.8325 0.8379
Trade weighted index (TWI) June 1979 = 100[2] 74.33 75.27 76.26 76.15 78.05 77.31 74.02
Official cash rate (OCR) % 2.50 2.50 2.50 2.50 2.50 2.50 2.50
90 day bank bill rate %[2] 2.65 2.66 2.66 2.64 2.65 2.64 2.64
10 year govt bond rate %[2] 3.56 3.56 3.81 3.72 3.34 3.37 3.82

Confidence Indicators/Surveys

ANZ Bank - business confidence net % 22.7 ... 39.4 34.6 32.3 41.8 50.1
ANZ Bank - activity outlook net % 31.4 ... 37.6 32.4 30.3 34.3 45.0
ANZ-Roy Morgan - consumer confidence net % 114.7 118.3 121.0 115.0 119.2 123.7 123.9
Performance of Manufacturing Index Index 49.7 51.1 53.8 53.5 53.4 60.5
Performance of Services Index Index 52.2 50.5 57.0 56.3 54.9 55.8

 

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, NZIER, ANZ, Haver, Westpac McDermott Miller, ANZ-Roy Morgan, REINZ, BNZ-Business NZ

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