New Zealand Key Economic Data
4 June 2013
Quarterly Indicators
| 2011Q2 | 2011Q3 | 2011Q4 | 2012Q1 | 2012Q2 | 2012Q3 | 2012Q4 | ||
|---|---|---|---|---|---|---|---|---|
Gross Domestic Product (GDP) |
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| Real production GDP | qtr % chg[1] | 0.8 | 0.4 | 1.0 | 0.2 | 0.2 | 1.5 | ... |
| ann ave % chg | 0.8 | 1.4 | 1.9 | 2.4 | 2.4 | 2.5 | ... | |
| Real private consumption | qtr % chg[1] | 1.2 | 0.3 | 0.6 | 0.2 | 0.0 | 1.5 | ... |
| ann ave % chg | 1.7 | 2.0 | 2.5 | 2.6 | 2.2 | 2.1 | ... | |
| Real public consumption | qtr % chg[1] | 0.3 | 0.4 | -1.2 | 1.1 | 0.1 | -0.7 | ... |
| ann ave % chg | 2.0 | 2.0 | 1.8 | 1.5 | 1.0 | 0.3 | ... | |
| Real residential investment | qtr % chg[1] | 1.1 | 4.3 | 1.3 | 5.5 | 5.6 | 2.0 | ... |
| ann ave % chg | -11.5 | -11.2 | -10.7 | -2.7 | 5.7 | 10.9 | ... | |
| Real non-residential investment | qtr % chg[1] | 2.7 | -0.1 | 3.7 | 3.1 | -4.1 | 2.2 | ... |
| ann ave % chg | 9.7 | 7.5 | 6.0 | 5.9 | 4.7 | 5.4 | ... | |
| Export volumes | qtr % chg[1] | 0.3 | 4.1 | -2.4 | -1.2 | 4.2 | 0.9 | ... |
| ann ave % chg | 1.8 | 2.7 | 2.6 | 2.4 | 3.1 | 2.1 | ... | |
| Import volumes | qtr % chg[1] | 1.7 | -2.4 | 4.2 | -3.7 | 2.1 | -2.0 | ... |
| ann ave % chg | 10.6 | 6.6 | 6.1 | 3.6 | 1.3 | 1.4 | ... | |
| Nominal GDP - expenditure basis | ann ave % chg | 4.8 | 3.9 | 3.8 | 4.1 | 3.0 | 2.3 | ... |
| Real GDP per capita | ann ave % chg | -0.3 | 0.4 | 1.0 | 1.6 | 1.7 | 1.8 | ... |
| Real Gross National Disposable Income | ann ave % chg | 2.3 | 1.8 | 2.2 | 1.3 | 1.3 | 1.0 | ... |
External Trade |
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| Current account balance (annual) | NZ$ millions | -8,826 | -8,268 | -9,033 | -10,087 | -9,861 | -10,509 | ... |
| % of GDP | -4.4 | -4.0 | -4.4 | -4.8 | -4.7 | -5.0 | ... | |
| Investment income balance (annual) | NZ$ millions | -10,595 | -10,750 | -10,443 | -10,899 | -10,226 | -9,791 | ... |
| Merchandise terms of trade | qtr % chg | -0.6 | -1.5 | -2.3 | -2.5 | -3.2 | -1.4 | ... |
| ann % chg | 3.4 | 1.0 | -2.1 | -6.7 | -9.2 | -9.1 | ... | |
Prices |
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| CPI inflation | qtr % chg | 0.4 | -0.3 | 0.5 | 0.3 | 0.3 | -0.2 | 0.4 |
| ann % chg | 4.6 | 1.8 | 1.6 | 1.0 | 0.8 | 0.9 | 0.9 | |
| Tradable inflation | ann % chg | 4.6 | 1.1 | 0.3 | -1.1 | -1.2 | -1.0 | -1.1 |
| Non-tradable inflation | ann % chg | 4.5 | 2.5 | 2.5 | 2.4 | 2.3 | 2.5 | 2.4 |
| GDP deflator | ann % chg | 2.9 | 0.4 | -0.2 | 1.9 | -1.4 | -2.7 | ... |
| Consumption deflator | ann % chg | 3.2 | 1.6 | 1.3 | 1.2 | 1.0 | 0.9 | ... |
Labour Market |
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| Employment (HLFS) | qtr % chg[1] | 0.1 | 0.5 | 0.0 | 0.0 | -0.4 | -0.9 | 1.7 |
| ann % chg[1] | 1.1 | 1.6 | 0.9 | 0.6 | 0.0 | -1.3 | 0.4 | |
| Unemployment rate | %[1] | 6.5 | 6.3 | 6.7 | 6.8 | 7.3 | 6.8 | 6.2 |
| Participation rate | %[1] | 68.4 | 68.4 | 68.6 | 68.4 | 68.4 | 67.2 | 67.8 |
| LCI salary & wage rates - total (adjusted)[5] | qtr % chg | 0.6 | 0.6 | 0.4 | 0.5 | 0.5 | 0.5 | 0.4 |
| ann % chg | 2.0 | 2.0 | 2.0 | 2.0 | 1.9 | 1.8 | 1.8 | |
| QES average hourly earnings - total[5] | qtr % chg | 1.2 | 0.1 | 1.4 | 0.1 | 1.1 | -0.1 | 0.8 |
| ann % chg | 3.2 | 2.8 | 3.8 | 2.9 | 2.8 | 2.6 | 2.1 | |
| Labour productivity[6] | ann ave % chg | -1.1 | 0.0 | 0.7 | 1.7 | 2.8 | 3.3 | ... |
Retail Sales |
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| Core retail sales volume | qtr % chg[1] | 1.9 | 1.8 | -0.3 | 0.7 | 0.1 | 1.2 | 0.6 |
| ann % chg | 3.2 | 6.4 | 4.2 | 4.1 | 1.7 | 1.8 | 2.5 | |
| Total retail sales volume | qtr % chg[1] | 1.8 | 1.4 | 0.2 | 1.2 | -0.2 | 1.9 | 0.5 |
| ann % chg | 2.8 | 5.7 | 4.2 | 4.7 | 2.2 | 3.2 | 3.5 | |
Confidence Indicators/Surveys |
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| WMM - consumer confidence[3] | Index | 112 | 101 | 102 | 100 | 103 | 111 | 111 |
| QSBO - general business situation[4] | net % | 24.6 | 0.1 | 13.0 | -4.1 | 8.0 | 19.8 | 23.0 |
| QSBO - own activity outlook[4] | net % | 30.0 | 9.9 | 16.9 | 8.1 | 17.7 | 18.7 | 18.1 |
Monthly Indicators
| 2012M08 | 2012M09 | 2012M10 | 2012M11 | 2012M12 | 2013M01 | 2013M02 | ||
|---|---|---|---|---|---|---|---|---|
External Sector |
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| Merchandise trade - exports | mth % chg[1] | 7.3 | -6.7 | 1.5 | 3.2 | -1.0 | 1.5 | ... |
| ann % chg[1] | -2.1 | -4.2 | -10.2 | 7.8 | 4.9 | 2.2 | ... | |
| Merchandise trade - imports | mth % chg[1] | 13.6 | 6.1 | -14.8 | 15.6 | 0.7 | -8.6 | ... |
| ann % chg[1] | -1.6 | -10.4 | -6.3 | 1.6 | -8.5 | 7.4 | ... | |
| Merchandise trade balance (12 month total) | NZ$ million | -1389 | -1155 | -1288 | -1060 | -515 | -694 | ... |
| Visitor arrivals | number[1] | 215,160 | 219,460 | 214,510 | 224,590 | 227,380 | 232,350 | ... |
| Visitor departures | number[1] | 212,260 | 218,850 | 218,190 | 221,270 | 230,830 | 235,010 | ... |
Housing |
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| Dwelling consents - residential | mth % chg[1] | -5.1 | 10.2 | -0.6 | 5.0 | -8.4 | 18.5 | ... |
| ann % chg[1] | 19.8 | 22.5 | 19.5 | 28.1 | -5.4 | 42.7 | ... | |
| House sales - dwellings | mth % chg[1] | -0.8 | -6.8 | 10.8 | -3.9 | -0.1 | 3.8 | ... |
| ann % chg[1] | 24.1 | 8.2 | 21.1 | 7.5 | 10.9 | 25.2 | ... | |
| REINZ - house price index | mth % chg | 1.4 | -0.6 | -1.0 | 1.6 | 2.4 | 0.8 | ... |
| ann % chg | 7.3 | 6.7 | 7.2 | 8.1 | 8.6 | 9.8 | ... | |
Private Consumption |
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| Electronic card transactions - total retail | mth % chg[1] | 0.6 | 0.3 | 0.3 | 0.8 | -0.4 | 0.6 | ... |
| ann % chg | 6.2 | 3.6 | 5.8 | 2.5 | 4.2 | 5.2 | ... | |
| New car registrations | mth % chg[1] | -4.0 | 0.2 | 3.5 | 1.2 | -0.1 | 7.4 | ... |
| ann % chg | 8.4 | 3.0 | 6.5 | 9.4 | 11.2 | 17.8 | ... | |
Migration |
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| Permanent & long-term arrivals | number[1] | 7,340 | 7,340 | 7,080 | 7,210 | 7,720 | 7,780 | ... |
| Permanent & long-term departures | number[1] | 6,750 | 7,480 | 6,660 | 6,450 | 6,430 | 6,210 | ... |
| Net PLT migration (12 month total) | number | -1,567 | -1,165 | 12 | 1,195 | 2,542 | 4,776 | ... |
Commodity Prices |
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| Brent oil price | US$/Barrel | 109.41 | 109.56 | 113.02 | 116.19 | 108.49 | 102.53 | 102.64 |
| WTI oil price | US$/Barrel | 86.66 | 88.25 | 94.69 | 95.32 | 93.05 | 92.07 | 95.00 |
| ANZ NZ commodity price index | mth % chg | 0.9 | -0.1 | -0.5 | 0.4 | 8.5 | 10.2 | ... |
| ann % chg | -12.6 | -12.3 | -10.2 | -5.9 | 2.2 | 17.4 | ... | |
| ANZ world commodity price index | mth % chg | 0.9 | 1.0 | 0.3 | 1.1 | 7.4 | 12.6 | ... |
| ann % chg | -6.7 | -5.2 | -6.1 | -4.9 | 3.9 | 22.5 | ... | |
Financial Markets |
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| NZD/USD | $[2] | 0.8192 | 0.8318 | 0.8375 | 0.8389 | 0.8279 | 0.8473 | 0.8283 |
| NZD/AUD | $[2] | 0.7875 | 0.7943 | 0.797 | 0.8136 | 0.8013 | 0.8158 | 0.8319 |
| Trade weighted index (TWI) | June 1979 = 100[2] | 73.38 | 74.33 | 75.27 | 76.26 | 76.15 | 78.05 | 77.41 |
| Official cash rate (OCR) | % | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 | 2.50 |
| 90 day bank bill rate | %[2] | 2.64 | 2.65 | 2.66 | 2.66 | 2.64 | 2.65 | 2.64 |
| 10 year govt bond rate | %[2] | 3.47 | 3.56 | 3.56 | 3.81 | 3.72 | 3.34 | 3.35 |
Confidence Indicators/Surveys |
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| ANZ Bank - business confidence | net % | 26.4 | 22.7 | ... | 39.4 | 34.6 | 32.3 | ... |
| ANZ Bank - activity outlook | net % | 31.6 | 31.4 | ... | 37.6 | 32.4 | 30.3 | ... |
| ANZ-Roy Morgan - consumer confidence | net % | 114.1 | 114.7 | 118.3 | 121.0 | 115.0 | 119.2 | 123.7 |
| Performance of Manufacturing Index | Index | 53.6 | 56.8 | 49.7 | 51.1 | 53.8 | 53.5 | 53.4 |
| Performance of Services Index | Index | 57.7 | 57.5 | 52.2 | 50.5 | 57.0 | 56.3 | 54.9 |
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] 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
