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Monthly Economic Indicators

New Zealand Key Economic Data

29 Oct 2014

Quarterly Indicators

Quarterly Indicators
    2013Q1 2013Q2 2013Q3 2013Q4 2014Q1 2014Q2 2014Q3

Gross Domestic Product (GDP)

Real production GDP qtr % chg[1] 0.5 0.6 1.1 1.0 1.0 0.7 ...
ann ave % chg 2.3 2.2 2.6 2.8 3.2 3.5 ...
Real private consumption qtr % chg[1] 0.9 0.9 0.5 1.2 0.1 1.2 ...
ann ave % chg 2.6 2.6 3.1 3.3 3.4 3.3 ...
Real public consumption qtr % chg[1] -0.3 0.3 1.9 -0.3 1.4 0.5 ...
ann ave % chg -1.0 -0.5 0.3 0.9 1.7 2.6 ...
Real residential investment qtr % chg[1] 5.7 1.0 6.3 1.0 11.1 -0.2 ...
ann ave % chg 19.3 17.9 17.5 17.3 17.0 18.1 ...
Real non-residential investment qtr % chg[1] 1.9 5.7 1.4 0.6 -1.4 2.5 ...
ann ave % chg 3.7 3.9 5.5 7.2 8.4 7.2 ...
Export volumes qtr % chg[1] 0.8 -3.2 -0.9 4.0 2.8 -2.9 ...
ann ave % chg 3.0 3.1 1.4 1.3 0.4 0.9 ...
Import volumes qtr % chg[1] 2.0 2.2 4.0 0.2 1.8 2.9 ...
ann ave % chg 1.3 2.5 4.6 6.3 8.0 8.8 ...
Nominal GDP - expenditure basis ann ave % chg 2.1 1.6 2.8 5.2 6.7 7.8 ...
Real GDP per capita ann ave % chg 1.7 1.6 1.9 2.0 2.2 2.4 ...
Real Gross National Disposable Income ann ave % chg 0.9 2.0 3.3 5.4 7.2 7.8 ...

External Trade

Current account balance (annual) NZ$ millions -7,967 -7,894 -8,476 -7,350 -6,005 -5,798 ...
% of GDP -3.8 -3.7 -3.9 -3.3 -2.7 -2.5 ...
Investment income balance (annual) NZ$ millions -8,923 -8,501 -8,507 -9,026 -9,337 -9,820 ...
Merchandise terms of trade qtr % chg 4.2 4.6 7.5 2.5 1.8 0.4 ...
ann % chg -2.8 4.3 15.8 20.2 17.3 12.5 ...

Prices

CPI inflation qtr % chg 0.4 0.2 0.9 0.1 0.3 0.3 0.3
ann % chg 0.9 0.7 1.4 1.6 1.5 1.6 1.0
Tradable inflation ann % chg -1.1 -1.6 -0.5 -0.3 -0.6 0.1 -1.0
Non-tradable inflation ann % chg 2.4 2.5 2.8 2.9 3.0 2.7 2.5
GDP deflator ann % chg 0.1 -0.1 3.2 7.2 6.1 3.2 ...
Consumption deflator ann % chg 0.5 0.1 0.6 0.9 0.9 1.1 ...

Labour Market

Employment (HLFS) qtr % chg[1] 0.2 0.5 1.2 1.1 0.9 0.4 ...
ann % chg[1] 0.4 0.8 2.4 3.0 3.8 3.7 ...
Unemployment rate %[1] 6.2 6.4 6.1 6.0 5.9 5.6 ...
Participation rate %[1] 67.9 68.1 68.6 68.9 69.2 68.9 ...
LCI salary & wage rates - total (adjusted)[5] qtr % chg 0.4 0.4 0.4 0.5 0.3 0.5 ...
ann % chg 1.8 1.7 1.6 1.6 1.5 1.6 ...
QES average hourly earnings - total[5] qtr % chg 0.8 0.2 1.6 0.2 0.5 0.2 ...
ann % chg 2.1 2.1 2.6 2.9 2.5 2.5 ...
Labour productivity[6] ann ave % chg 2.3 1.6 0.6 -0.3 -0.3 -0.3 ...

Retail Sales

Core retail sales volume qtr % chg[1] 0.9 1.9 -0.1 0.9 1.0 1.2 ...
ann % chg 2.5 4.4 4.3 3.7 3.6 3.0 ...
Total retail sales volume qtr % chg[1] 0.8 1.4 0.3 1.3 0.8 1.2 ...
ann % chg 3.5 4.2 4.7 3.9 3.8 3.6 ...

Confidence Indicators/Surveys

               
WMM - consumer confidence[3] Index 111 117 115 120 122 121 117
QSBO - general business situation[4] net % 22.8 35.9 37.8 52.8 51.7 31.7 19.0
QSBO - own activity outlook[4] net % 18.0 20.9 15.4 17.5 20.8 11.5 22.9

Monthly Indicators

Monthly Indicators
    2014M04 2014M05 2014M06 2014M07 2014M08 2014M09 2014M10

External Sector

Merchandise trade - exports mth % chg[1] -5.3 2.6 -0.1 3.4 -7.6 14.5 ...
ann % chg[1] 11.8 12.2 4.3 -3.8 6.5 -5.3 ...
Merchandise trade - imports mth % chg[1] -7.7 0.1 -1.1 -9.2 14.3 -8.7 ...
ann % chg[1] 4.4 6.8 8.3 0.2 -11.7 22.9 ...
Merchandise trade balance (12 month total) NZ$ million 1095 1320 1189 1031 1778 648 ...
Visitor arrivals number[1] 237,450 238,150 237,260 235,810 228,770 230,730 ...
Visitor departures number[1] 236,170 246,760 246,050 238,310 238,570 231,570 ...

Housing

Dwelling consents - residential mth % chg[1] 3.0 -4.6 5.3 -1.7 0.0 ... ...
ann % chg[1] 18.6 7.8 30.1 20.5 15.7 ... ...
House sales - dwellings mth % chg[1] -6.9 2.4 0.3 4.8 -4.9 3.6 ...
ann % chg[1] -20.2 -14.8 -6.3 -13.0 -16.3 -12.0 ...
REINZ - house price index mth % chg 0.0 -0.8 0.2 0.2 0.2 0.0 ...
ann % chg 8.5 6.5 6.3 5.9 4.8 4.1 ...

Private Consumption

Electronic card transactions - total retail mth % chg[1] 0.3 1.2 0.1 -0.1 0.6 -0.1 ...
ann % chg 5.7 7.6 4.0 5.1 4.1 5.4 ...
New car registrations mth % chg[1] -0.4 3.5 3.1 1.9 -1.2 3.5 ...
ann % chg 17.5 21.7 25.2 16.6 18.7 31.1 ...

Migration

Permanent & long-term arrivals number[1] 8,770 9,110 9,200 9,320 9,500 9,550 ...
Permanent & long-term departures number[1] 4,680 5,090 4,920 4,750 4,780 4,880 ...
Net PLT migration (12 month total) number 34,366 36,397 38,338 41,043 43,483 45,414 ...

Commodity Prices

Brent oil price US$/Barrel 107.78 109.48 111.84 106.81 101.78 97.40 87.78
WTI oil price US$/Barrel 102.07 102.11 105.79 103.59 96.54 93.21 84.81
ANZ NZ commodity price index mth % chg -4.7 -2.1 -1.0 -3.4 -0.4 1.6 ...
ann % chg -3.4 -6.0 -7.8 -11.5 -12.5 -9.9 ...
ANZ world commodity price index mth % chg -3.7 -2.2 -0.9 -2.4 -3.3 -1.3 ...
ann % chg -2.5 -3.1 -0.3 -3.3 -7.2 -9.4 ...

Financial Markets

NZD/USD $[2] 0.862 0.861 0.8621 0.8697 0.8435 0.8167 0.7871
NZD/AUD $[2] 0.9254 0.9255 0.9204 0.9259 0.9065 0.9001 0.8984
Trade weighted index (TWI) June 1979 = 100[2] 80.21 80.10 80.33 80.93 79.23 78.36 76.59
Official cash rate (OCR) % 3.00 3.00 3.25 3.50 3.50 3.50 3.50
90 day bank bill rate %[2] 3.24 3.38 3.52 3.67 3.69 3.71 3.68
10 year govt bond rate %[2] 4.55 4.30 4.42 4.37 4.20 4.20 4.04

Confidence Indicators/Surveys

ANZ Bank - business confidence net % 64.8 53.5 42.8 39.7 24.4 13.4 26.5
ANZ Bank - activity outlook net % 52.5 51.0 45.8 45.1 36.6 37.0 37.8
ANZ-Roy Morgan - consumer confidence net % 133.5 127.6 131.9 132.7 125.5 127.7 123.4
Performance of Manufacturing Index Index 54.1 52.7 53.7 54.0 57.0 58.1 ...
Performance of Services Index Index 58.5 54.1 55.1 58.5 57.7 58.0 ...

 

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

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