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Monthly Economic Indicators

New Zealand Key Economic Data

Quarterly Indicators

Quarterly Indicators
    2007Q1 2007Q2 2007Q3 2007Q4 2008Q1 2008Q2 2008Q3

Gross Domestic Product (GDP)

Real production GDP qtr % chg[1] 1.2 0.9 0.6 0.9 -0.3 -0.2 ...
ann ave % chg 1.8 2.3 2.9 3.2 3.2 2.6 ...
Real private consumption qtr % chg[1] 1.8 0.5 0.5 0.6 -0.4 -0.3 ...
ann ave % chg 2.9 3.4 3.9 4.1 3.3 2.4 ...
Real public consumption qtr % chg[1] 0.3 1.3 1.5 0.5 1.5 0.5 ...
ann ave % chg 4.0 3.8 3.7 3.6 4.1 4.2 ...
Real residential investment qtr % chg[1] 0.5 4.6 0.5 -2.3 -5.2 -8.1 ...
ann ave % chg -2.7 1.6 3.6 4.5 3.8 -2.4 ...
Real non-residential investment qtr % chg[1] 3.7 -1.3 0.1 4.8 -0.5 6.1 ...
ann ave % chg -1.6 0.8 2.3 4.7 4.4 5.6 ...
Export volumes qtr % chg[1] 3.0 -0.8 -0.4 4.5 -1.8 -0.2 ...
ann ave % chg 3.1 3.3 2.1 3.3 2.3 2.1 ...
Import volumes qtr % chg[1] 4.3 2.5 0.7 4.0 1.4 3.3 ...
ann ave % chg -1.6 1.7 5.3 8.7 9.7 9.7 ...
Nominal GDP - expenditure basis ann ave % chg 5.2 6.5 7.0 7.4 7.5 6.2 ...
Real GDP per capita ann ave % chg 0.6 1.2 1.7 2.1 2.1 1.6 ...
Real Gross National Disposable Income ann ave % chg 1.9 2.9 3.5 4.9 5.4 5.0 ...

External Trade

 

 

 

 

 

 

 

 

Current account balance (annual) NZ$ millions -13785 -14096 -14892 -14372 -14211 -14968 ...
% of GDP -8.3 -8.4 -8.7 -8.2 -8.0 -8.4 ...
Investment income balance (annual) NZ$ millions -11964 -12135 -12796 -12837 -13388 -13931 ...
Merchandise terms of trade qtr % chg 1.5 0.4 3.7 2.9 4.2 -0.5 ...
ann % chg 4.5 2.3 8.4 8.8 11.6 10.6 ...

Prices

CPI inflation qtr % chg 0.5 1.0 0.5 1.2 0.7 1.6 ...
ann % chg 2.5 2.0 1.8 3.2 3.4 4.0 ...
Tradable inflation ann % chg 0.8 -0.5 -0.3 2.8 3.4 4.8 ...
Non-tradable inflation ann % chg 4.0 4.1 3.7 3.5 3.5 3.4 ...
GDP deflator ann % chg 3.1 4.3 3.8 5.6 5.8 3.6 ...
Consumption deflator ann % chg 2.0 1.4 1.2 2.1 2.5 3.4 ...

Labour Market

Employment (HLFS) qtr % chg[1] 1.4 0.3 -0.1 0.9 -1.3 1.3 ...
ann % chg[1] 1.8 1.5 1.5 2.5 -0.2 0.7 ...
Unemployment rate %[1] 3.7 3.6 3.5 3.4 3.7 3.9 ...
Participation rate %[1] 68.7 68.7 68.3 68.6 67.7 68.6 ...
LCI salary & wage rates - total (adjusted)[6] qtr % chg 0.6 0.6 1.0 1.0 0.8 0.7 ...
ann % chg 3.2 3.1 3.1 3.3 3.4 3.5 ...
LCI salary & wage rates - total (unadjusted)[6] qtr % chg 0.8 1.0 1.7 1.4 1.2 1.1 ...
ann % chg 4.5 4.6 4.8 5.0 5.4 5.5 ...
QES average hourly earnings - total[6] qtr % chg 1.0 0.8 1.3 1.0 1.5 1.4 ...
ann % chg 4.6 4.3 4.0 4.2 4.6 5.3 ...
Labour productivity[7] ann ave % chg 1.3 1.6 2.1 2.7 3.3 2.7 ...
Confidence Indicators/Surveys
WMM - consumer confidence[3] Index 118 111 114 110 97 82 105
QSBO - general business situation[4] net % -15.3 -36.6 -27.3 -26.4 -64.1 -63.7 ...
QSBO - own activity outlook[4] net % 16.1 8.8 15.4 13.9 -9.7 -22.9 ...

 

Monthly Indicators

Monthly Indicators
2008M 3 2008M 4 2008M 5 2008M 6 2008M 7 2008M 8 2008M 9

External Sector

Merchandise trade - exports mth % chg[1] -19.3 15.9 -11.1 16.1 -2.0 9.9 ...
ann % chg[1] 3.3 20.7 11.6 32.0 29.7 34.3 ...
Merchandise trade - imports mth % chg[1] -3.9 10.8 -2.8 0.7 2.3 -0.9 ...
ann % chg[1] 7.2 21.5 16.8 17.4 22.2 19.9 ...
Merchandise trade balance (12 month total) NZ$ million -4528 -4604 -4782 -4479 -4479 -4282 ...
Visitor arrivals number[1] 214820 189900 207130 204560 209160 208010 ...
Visitor departures number[1] 211100 201820 203530 209270 204920 207210 ...

Housing

Dwelling consents - residential mth % chg[1] -14.5 82.0 -42.1 -13.3 -1.7 -7.9 ...
ann % chg[1] -27.0 29.8 -27.1 -45.5 -34.7 -43.3 ...
House sales - dwellings mth % chg[1] -31.7 13.1 -16.9 15.0 11.0 -11.1 ...
ann % chg[1] -53.5 -44.9 -53.2 -42.5 -32.3 -33.7 ...
REINZ - median dwelling price mth % chg 1.2 -1.1 0.1 -1.0 0.4 -2.3 ...
ann % chg 1.6 -1.2 -1.3 -2.2 -1.4 -5.6 ...

Private Consumption

Core retail sales mth % chg[1] -0.4 -0.2 0.5 0.2 -0.2 ... ...
ann % chg[1] 0.7 1.5 1.6 2.1 1.8 ... ...
Total retail sales mth % chg[1] -1.0 1.3 -1.3 1.0 -0.8 ... ...
ann % chg[1] 0.8 3.3 1.1 2.4 1.1 ... ...
New car registrations mth % chg[1] -12.8 9.0 -11.7 1.4 -7.5 ... ...
ann % chg -13.2 -1.1 -20.6 -15.9 -27.1 ... ...
Electronic card transactions - total retail mth % chg[1] 0.1 -0.3 1.3 -0.3 0.9 1.1 ...
ann % chg 4.4 6.0 8.7 2.6 7.3 5.9 ...

Migration

Permanent & long-term arrivals number[1] 7230 7310 7860 7570 7670 7880 ...
Permanent & long-term departures number[1] 6680 6810 6900 7110 6860 7440 ...
Net PLT migration (12 month total) number 4678 4666 4931 4732 5201 4938 ...

Commodity Prices

Brent oil price US$/Barrel 103.16 110.03 123.86 132.76 133.59 113.80 98.76
WTI oil price US$/Barrel 105.50 112.34 125.67 133.93 133.96 116.70 104.62
ANZ NZ commodity price index mth % chg 2.1 1.1 2.5 2.1 2.8 2.1 -0.9
ann % chg 12.0 13.4 13.2 12.5 14.4 6.2 3.6
ANZ world commodity price index mth % chg 2.0 -0.3 1.0 -0.1 1.8 -3.3 -4.9
ann % chg 26.9 20.7 18.7 11.8 8.7 3.6 -1.9

Financial Markets

NZD/USD $[2] 0.8027 0.7900 0.7769 0.7607 0.7553 0.7102 0.6748
NZD/AUD $[2] 0.8669 0.8500 0.8188 0.7997 0.7848 0.8031 0.8224
Trade weighted index (TWI) June 1979 = 100[2] 71.58 70.31 69.32 68.11 67.18 65.52 63.82
Official cash rate (OCR) % 8.25 8.25 8.25 8.25 8 8.00 7.50
90 day bank bill rate %[2] 8.91 8.87 8.71 8.68 8.46 8.2 7.95
10 year govt bond rate %[2] 6.36 6.48 6.43 6.42 6.18 6.13 5.82

Confidence Indicators/Surveys

National Bank - business confidence net % -57.9 -54.8 -49.7 -38.7 -43.2 -20.5 1.6
National Bank - activity outlook net % -6.4 -3.8 -4.4 -4.0 -8.2 4.7 16.7
One News[5] - consumer confidence net % -25 -34 -33 -25 -27 6 23

 

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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