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Monthly Economic Indicators

New Zealand Key Economic Data

Quarterly Indicators

Quarterly Indicators
    2010Q1 2010Q2 2010Q3 2010Q4 2011Q1 2011Q2 2011Q3

Gross Domestic Product (GDP)

Real production GDP qtr % chg[1] 0.5 0.2 -0.1 0.6 0.9 0.1 ...
ann ave % chg -0.7 0.5 1.4 1.6 1.6 1.5 ...
Real private consumption qtr % chg[1] 0.5 0.4 0.4 0.6 0.5 0.3 ...
ann ave % chg 0.3 1.4 1.9 2.2 2.0 1.9 ...
Real public consumption qtr % chg[1] 1.8 1.2 0.1 1.3 0.5 -0.1 ...
ann ave % chg 0.2 1.3 2.2 3.4 3.8 3.2 ...
Real residential investment qtr % chg[1] -1.8 11.6 -7.4 -6.9 -2.4 -7.2 ...
ann ave % chg -13.0 -4.3 3.5 2.8 2.3 -6.8 ...
Real non-residential investment qtr % chg[1] -0.2 4.1 1.2 7.7 -1.2 1.3 ...
ann ave % chg -8.4 -7.2 -3.9 2.0 6.9 9.6 ...
Export volumes qtr % chg[1] 1.2 0.4 -1.2 2.1 0.8 -0.5 ...
ann ave % chg 4.8 4.9 3.8 2.9 1.9 1.5 ...
Import volumes qtr % chg[1] 2.6 0.7 2.7 6.8 -2.7 1.7 ...
ann ave % chg -9.4 -1.7 5.7 10.3 10.5 10.3 ...
Nominal GDP - expenditure basis ann ave % chg 1.2 2.1 3.2 5.0 5.7 5.8 ...
Real GDP per capita ann ave % chg -1.8 -0.8 0.1 0.4 0.5 0.5 ...
Real Gross National Disposable Income ann ave % chg 1.1 1.4 0.9 2.7 2.2 2.8 ...

External Trade

Current account balance (annual) NZ$ millions -3587 -4698 -6621 -6787 -7196 -7473 ...
% of GDP -1.9 -2.5 -3.5 -3.5 -3.6 -3.7 ...
Investment income balance (annual) NZ$ millions -6999 -8273 -9750 -9538 -9649 -9589 ...
Merchandise terms of trade qtr % chg 6.1 2.0 3.0 0.8 0.8 2.4 -0.6
ann % chg 0.1 12.7 17.9 12.3 6.7 7.1 3.4

Prices

CPI inflation qtr % chg 0.4 0.2 1.1 2.3 0.8 1.0 0.4
ann % chg 2.0 1.7 1.5 4.0 4.5 5.3 4.6
Tradable inflation ann % chg 2.0 1.0 0.3 3.3 3.7 5.5 4.6
Non-tradable inflation ann % chg 2.1 2.2 2.5 4.6 5.2 5.2 4.5
GDP deflator ann % chg 0.0 1.8 3.0 5.8 4.4 4.0 ...
Consumption deflator ann % chg 0.8 0.5 0.9 2.7 3.1 3.8 ...

Labour Market

Employment (HLFS) qtr % chg[1] 0.7 -0.1 1.1 -0.3 1.2 0.0 0.2
ann % chg[1] -0.1 0.0 1.8 1.3 1.8 2.0 1.1
Unemployment rate %[1] 6.1 6.9 6.4 6.7 6.5 6.5 6.6
Participation rate %[1] 68.0 68.1 68.3 68.0 68.6 68.3 68.4
LCI salary & wage rates - total (adjusted)[5] qtr % chg 0.3 0.4 0.5 0.5 0.4 0.5 0.6
ann % chg 1.5 1.6 1.6 1.7 1.8 1.9 2.0
QES average hourly earnings - total[5] qtr % chg -0.4 0.7 1.0 0.5 0.4 1.1 1.2
ann % chg 1.0 1.0 1.1 1.8 2.6 3.0 3.2
Labour productivity[6] ann ave % chg 2.1 2.0 1.3 0.2 -0.4 -0.5 ...

Retail Sales

Core retail sales volume qtr % chg[1] 0.2 0.7 -0.4 0.1 1.1 1.1 2.4
ann % chg 3.0 2.6 1.5 0.3 1.4 1.9 4.5
Total retail sales volume qtr % chg[1] 0.5 0.6 -0.6 -0.3 1.1 1.0 2.2
ann % chg 3.2 3.4 1.9 -0.1 0.8 1.1 3.9

Confidence Indicators/Surveys

               
WMM - consumer confidence[3] Index 115 119 114 108 98 112 112
QSBO - general business situation[4] net % 21.9 17.5 6.4 8.1 -26.8 26.6 24.6
QSBO - own activity outlook[4] net % -5.2 -4.9 -14.1 -1.3 -4.8 3.0 1.8

Monthly Indicators

Monthly Indicators
    2011M5 2011M6 2011M7 2011M8 2011M9 2011M10 2011M11

External Sector

Merchandise trade - exports mth % chg[1] -8.4 -0.2 -1.5 2.9 -0.9 0.5 ...
ann % chg[1] 10.0 3.8 4.2 9.7 9.0 5.8 ...
Merchandise trade - imports mth % chg[1] 12.8 -8.0 -9.3 13.2 2.2 -4.9 ...
ann % chg[1] 18.8 4.7 -3.8 16.0 16.5 7.6 ...
Merchandise trade balance (12 month total) NZ$ million 1019 999 1288 1023 689 627 ...
Visitor arrivals number[1] 207810 183960 215100 224320 264650 243920 ...
Visitor departures number[1] 216550 201870 211060 208650 241140 278980 ...

Housing

Dwelling consents - residential mth % chg[1] 3.2 -1.1 13.7 16.8 -17.1 11.2 ...
ann % chg[1] -21.8 -25.4 -15.6 18.7 -3.8 11.8 ...
House sales - dwellings mth % chg[1] 9.9 -0.9 -3.4 4.9 -3.9 -2.3 ...
ann % chg[1] 10.9 14.0 11.3 20.6 21.2 28.8 ...
REINZ - house price index mth % chg -1.8 1.3 -0.6 0.5 1.7 -0.3 ...
ann % chg -0.7 0.0 0.5 0.7 2.7 3.4 ...

Private Consumption

Electronic card transactions - total retail mth % chg[1] -0.7 1.1 0.3 -0.6 0.7 1.5 ...
ann % chg 6.8 9.0 8.0 8.4 7.5 7.4 ...
New car registrations mth % chg[1] 3.4 -2.3 -1.9 9.0 -12.3 0.5 ...
ann % chg -3.7 -9.5 -6.0 1.9 -12.2 -8.8 ...

Migration

Permanent & long-term arrivals number[1] 6940 6900 7350 7380 6950 6710 ...
Permanent & long-term departures number[1] 7210 7160 7550 7270 7640 7350 ...
Net PLT migration (12 month total) number 4625 3867 2867 2257 773 -103 ...

Commodity Prices

Brent oil price US$/Barrel 114.93 114.37 117.48 110.35 111.96 110.43 111.16
WTI oil price US$/Barrel 101.30 96.29 97.08 86.33 85.65 86.41 97.11
ANZ NZ commodity price index mth % chg -0.7 -3.3 -3.7 -0.2 0.2 -0.6 1.2
ann % chg 7.6 4.9 4.7 5.7 4.9 3.9 6.2
ANZ world commodity price index mth % chg 0.4 -1.2 -0.2 -1.4 -2.0 -3.5 -1.0
ann % chg 19.6 20.6 22.2 22.0 16.5 9.1 5.8

Financial Markets

NZD/USD $[2] 0.7959 0.8150 0.8455 0.8384 0.8143 0.7879 0.7728
NZD/AUD $[2] 0.7447 0.7686 0.7852 0.7978 0.7943 0.7799 0.7635
Trade weighted index (TWI) June 1979 = 100[2] 68.70 70.30 72.70 72.10 71.20 69.30 68.20
Official cash rate (OCR) % 2.50 2.50 2.50 2.50 2.50 2.50 2.50
90 day bank bill rate %[2] 2.66 2.65 2.71 2.90 2.88 2.76 2.69
10 year govt bond rate %[2] 5.23 5.04 5.07 4.55 4.41 4.54 4.14

Confidence Indicators/Surveys

National Bank - business confidence net % 38.3 46.5 47.6 34.4 30.3 13.2 18.3
National Bank - activity outlook net % 39.7 38.7 43.7 43.3 35.4 26.1 28.8
ANZ-Roy Morgan - consumer confidence net % 103.3 112.5 109.4 113.3 112.6 112.2 109.0

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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