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Monthly Economic Indicators

New Zealand Key Economic Data

Quarterly Indicators

Quarterly Indicators
    2007Q3 2007Q4 2008Q1 2008Q2 2008Q3 2008Q4 2009Q1
Gross Domestic Product (GDP)
Real production GDP qtr % chg[1] 0.6 0.9 -0.3 -0.2 -0.5 -0.9 ...
ann ave % chg 2.8 3.2 3.1 2.5 1.7 0.2 ...
Real private consumption qtr % chg[1] 0.6 0.5 -0.5 -0.2 -0.1 0.0 ...
ann ave % chg 3.9 4.0 3.2 2.3 1.2 0.1 ...
Real public consumption qtr % chg[1] 1.8 0.2 1.5 0.4 0.7 1.7 ...
ann ave % chg 3.9 3.9 4.3 4.3 3.9 4.0 ...
Real residential investment qtr % chg[1] 0.1 -1.8 -5.1 -8.0 -8.1 -14.0 ...
ann ave % chg 4.2 5.1 4.3 -2.0 -9.7 -18.6 ...
Real non-residential investment qtr % chg[1] 0.8 3.3 -0.2 4.4 -8.1 -1.8 ...
ann ave % chg 3.2 4.9 4.2 3.0 1.8 -0.6 ...
Export volumes qtr % chg[1] 0.2 4.6 -2.3 -0.3 -3.1 -3.3 ...
ann ave % chg 2.4 3.8 2.9 2.6 2.3 -1.8 ...
Import volumes qtr % chg[1] 1.0 4.2 0.9 3.3 -6.7 -6.1 ...
ann ave % chg 5.3 8.6 9.6 10.1 8.1 2.5 ...
Nominal GDP - expenditure basis ann ave % chg 7.0 7.3 7.4 6.0 4.6 3.0 ...
Real GDP per capita ann ave % chg 1.7 2.1 2.1 1.5 0.7 -0.7 ...
Real Gross National Disposable Income ann ave % chg 3.3 4.7 5.1 4.8 4.6 2.1 ...
External Trade
Current account balance (annual) NZ$ millions -14892 -14372 -14211 -14982 -15528 -16073 ...
% of GDP -8.7 -8.2 -8.0 -8.4 -8.6 -8.9 ...
Investment income balance (annual) NZ$ millions -12796 -12837 -13388 -13861 -13672 -13582 ...
Merchandise terms of trade qtr % chg 3.7 2.9 4.2 -0.4 -1 -0.9 ...
ann % chg 8.4 8.8 11.6 10.7 5.8 1.8 ...
Prices
CPI inflation qtr % chg 0.5 1.2 0.7 1.6 1.5 -0.5 ...
ann % chg 1.8 3.2 3.4 4.0 5.1 3.4 ...
Tradable inflation ann % chg -0.3 2.8 3.4 4.8 6.3 2.3 ...
Non-tradable inflation ann % chg 3.7 3.5 3.5 3.4 4.1 4.3 ...
GDP deflator ann % chg 3.2 5.9 6.2 3.7 2.3 2.6 ...
Consumption deflator ann % chg 1.2 2.0 2.5 3.2 4.0 3.7 ...
Labour Market
Employment (HLFS) qtr % chg[1] -0.1 1.0 -1.3 1.2 0.1 0.9 ...
ann % chg[1] 1.6 2.5 -0.2 0.7 1.0 0.9 ...
Unemployment rate %[1] 3.5 3.4 3.7 3.9 4.2 4.6 ...
Participation rate %[1] 68.3 68.7 67.7 68.6 68.7 69.3 ...
LCI salary & wage rates - total (adjusted)[6] qtr % chg 1.0 1.0 0.8 0.7 1.2 0.7 ...
ann % chg 3.1 3.3 3.4 3.5 3.6 3.3 ...
LCI salary & wage rates - total (unadjusted)[6] qtr % chg 1.7 1.4 1.2 1.1 1.5 1.5 ...
ann % chg 4.8 5.0 5.4 5.5 5.3 5.4 ...
QES average hourly earnings - total[6] qtr % chg 1.3 1.0 1.5 1.4 1.5 0.9 ...
ann % chg 4.0 4.2 4.6 5.3 5.5 5.4 ...
Labour productivity[7] ann ave % chg 2.1 2.7 3.2 2.6 1.7 0.7 ...
Confidence Indicators/Surveys
WMM - consumer confidence[3] Index 114 110 97 82 105 101 96
QSBO - general business situation[4] net % -27.3 -26.4 -64.1 -63.7 -19.3 -64.4 ...
QSBO - own activity outlook[4] net % 15.4 13.9 -9.7 -22.9 -8.3 -40.9 ...

Monthly Indicators

Monthly Indicators
    2008M 9 2008M10 2008M11 2008M12 2009M 1 2009M 2 2009M 3
External Sector
Merchandise trade - exports mth % chg[1] -14.0 13.7 -3.0 -1.2 -0.8 -2.7 ...
ann % chg[1] 8.1 13.2 9.5 3.7 2.7 -6.2 ...
Merchandise trade - imports mth % chg[1] 3.7 -1.8 -6.0 6.9 -15.4 -5.1 ...
ann % chg[1] 26.8 15.2 7.4 14.9 -3.3 -13.8 ...
Merchandise trade balance (12 month total) NZ$ million -5048 -5269 -5234 -5614 -5408 -5161 ...
Visitor arrivals number[1] 194910 194720 196520 210410 194800 200430 ...
Visitor departures number[1] 193170 195370 200100 202390 202670 199860 ...
Housing
Dwelling consents - residential mth % chg[1] 8.2 -19.5 3.6 -7.0 -13.1 11.7 ...
ann % chg[1] -28.4 -42.8 -39.7 -41.4 -51.7 -40.0 ...
House sales - dwellings mth % chg[1] 2.2 -3.5 -14.3 23.1 -6.2 8.3 ...
ann % chg[1] -23.8 -34.9 -45.3 -23.5 -28.7 -17.8 ...
REINZ - median dwelling price mth % chg -0.1 0.3 -0.1 -0.8 0.3 0.9 ...
ann % chg -6.1 -4.4 -4.1 -4.8 -4.3 -2.1 ...
Private Consumption
Core retail sales mth % chg[1] -0.4 1.0 0.1 -0.7 0.3 ... ...
ann % chg[1] 1.0 3.0 2.3 1.0 1.4 ... ...
Total retail sales mth % chg[1] 0.3 -1.3 0.0 -0.7 -1.1 ... ...
ann % chg[1] 0.6 -0.2 -1.7 -2.8 -4.0 ... ...
New car registrations mth % chg[1] 9.8 -0.3 -19.9 12.8 -13.6 -15.4 ...
ann % chg -15.6 -19.9 -34.4 -23.7 -36.5 -44.6 ...
Electronic card transactions - total retail mth % chg[1] -0.2 0.8 -2.6 -0.5 -0.6 0.7 ...
ann % chg 4.0 6.6 0.2 0.1 1.2 -3.5 ...
Migration
Permanent & long-term arrivals number[1] 7050 7390 7050 7030 7410 7550 ...
Permanent & long-term departures number[1] 7090 7380 7360 6750 6670 5880 ...
Net PLT migration (12 month total) number 4403 4329 3569 3814 4538 6160 ...
Commodity Prices
Brent oil price US$/Barrel 98.76 71.96 52.71 40.51 43.17 42.91 46.58
WTI oil price US$/Barrel 104.44 76.28 56.97 40.64 41.63 39.08 47.98
ANZ NZ commodity price index mth % chg -1.1 0.4 -1.5 -6.1 -4.3 1.9 -3.4
ann % chg 3.3 7.9 5.4 -0.1 -2.6 1.5 -4.0
ANZ world commodity price index mth % chg -5.1 -7.6 -7.4 -7.4 -4.3 -4.6 1.0
ann % chg -2.1 -11.1 -18.3 -24.3 -26.5 -30.7 -31.4
Financial Markets
NZD/USD $[2] 0.6748 0.6137 0.5651 0.5569 0.5526 0.5151 0.5308
NZD/AUD $[2] 0.8224 0.8809 0.8600 0.8320 0.8154 0.7938 0.7979
Trade weighted index (TWI) June 1979 = 100[2] 63.82 60.74 57.41 55.11 54.86 52.31 53.84
Official cash rate (OCR) % 7.50 6.50 6.50 5.00 3.50 3.50 3.00
90 day bank bill rate %[2] 7.95 7.43 6.25 5.23 4.38 3.40 3.24
10 year govt bond rate %[2] 5.82 5.86 5.73 4.88 4.49 4.53 4.77
Confidence Indicators/Surveys
National Bank - business confidence net % 1.6 -42.3 -43.0 -35.0 -36.8 -41.2 -39.3
National Bank - activity outlook net % 16.7 -11.4 -14.1 -21.5 -23.2 -20.1 -21.2
One News[5] - consumer confidence net % 23 -5 5 0.3 -4.3 -9 ...

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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