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Monthly Economic Indicators

New Zealand Key Economic Data

27 September 2012

Quarterly Indicators

Quarterly Indicators
    2011Q1 2011Q2 2011Q3 2011Q4 2011Q1 2012Q2 2012Q3

Gross Domestic Product (GDP)









Real production GDP qtr % chg[1] 0.6 0.3 0.5 0.5 1.0 0.6 ...

ann ave % chg 1.6 1.3 1.1 1.3 1.6 2.0 ...
Real private consumption qtr % chg[1] 0.3 0.7 1.4 0.4 0.1 0.2 ...

ann ave % chg 1.5 0.8 0.9 1.4 2.0 2.4 ...
Real public consumption qtr % chg[1] 0.4 -0.2 1.1 -0.6 -0.3 0.8 ...

ann ave % chg 0.3 0.1 0.5 0.5 0.5 0.7 ...
Real residential investment qtr % chg[1] -1.2 -9.5 1.3 4.1 0.9 5.7 ...

ann ave % chg 3.8 -4.9 -11.1 -11.7 -11.8 -3.8 ...
Real non-residential investment qtr % chg[1] 1.6 -2.6 -1.1 0.7 2.0 2.8 ...

ann ave % chg 6.9 10.6 10.0 5.7 2.2 1.1 ...
Export volumes qtr % chg[1] 1.6 -0.2 0.6 3.7 -2.2 -1.2 ...

ann ave % chg 2.8 2.1 1.8 2.7 2.6 2.5 ...
Import volumes qtr % chg[1] -2.9 2.9 2.0 -2.1 3.8 -3.0 ...

ann ave % chg 11.6 11.5 10.7 6.7 6.2 4.0 ...
Nominal GDP - expenditure basis ann ave % chg 4.7 4.9 4.7 3.7 3.4 3.5 ...
Real GDP per capita ann ave % chg 0.4 0.1 0.0 0.3 0.7 1.2 ...
Real Gross National Disposable Income ann ave % chg 2.2 2.6 2.7 1.7 1.9 1.0 ...

External Trade









Current account balance (annual) NZ$ millions -7,176 -7,422 -8,826 -8,268 -9,033 -10,087 ...

% of GDP -3.7 -3.8 -4.4 -4.1 -4.5 -4.9 ...
Investment income balance (annual) NZ$ millions -9,812 -9,672 -10,507 -10,656 -10,340 -10,793 ...
Merchandise terms of trade qtr % chg 0.8 2.4 -0.6 -1.5 -2.3 -2.6 ...

ann % chg 6.7 7.1 3.4 1.0 -2.1 -6.8 ...

Prices









CPI inflation qtr % chg 0.8 1.0 0.4 -0.3 0.5 0.3 ...

ann % chg 4.5 5.3 4.6 1.8 1.6 1.0 ...
Tradable inflation ann % chg 3.7 5.5 4.6 1.1 0.3 -1.1 ...
Non-tradable inflation ann % chg 5.2 5.2 4.5 2.5 2.5 2.4 ...
GDP deflator ann % chg 4.3 4.5 3.2 0.8 1.0 2.3 ...
Consumption deflator ann % chg 3.6 4.6 3.7 1.7 1.5 1.1 ...

Labour Market









Employment (HLFS) qtr % chg[1] 1.1 0.2 0.1 0.2 0.4 -0.1 ...

ann % chg[1] 1.7 2.0 1.1 1.6 0.9 0.6 ...
Unemployment rate %[1] 6.6 6.5 6.6 6.4 6.7 6.8 ...
Participation rate %[1] 68.5 68.4 68.4 68.2 68.7 68.4 ...
LCI salary & wage rates - total (adjusted)[5] qtr % chg 0.4 0.5 0.6 0.6 0.4 0.5 ...

ann % chg 1.8 1.9 2.0 2.0 2.0 2.0 ...
QES average hourly earnings - total[5] qtr % chg 0.4 1.1 1.2 0.1 1.4 0.1 ...

ann % chg 2.6 3.0 3.2 2.8 3.8 2.9 ...
Labour productivity[6] ann ave % chg -0.4 -0.8 -0.8 -0.1 0.4 1.3 ...

Retail Sales









Core retail sales volume qtr % chg[1] 1.5 0.9 2.6 2.2 -1.4 0.9 ...

ann % chg 1.4 1.9 4.5 7.3 4.3 4.3 ...
Total retail sales volume qtr % chg[1] 1.5 0.8 2.4 1.7 -0.6 1.3 ...

ann % chg 0.7 1.1 3.9 6.4 4.2 4.8 ...

Confidence Indicators/Surveys

               
WMM - consumer confidence[3] Index 98 112 112 101 102 100 103
QSBO - general business situation[4] net % -26.8 26.6 24.6 0.1 13.0 -4.1 ...
QSBO - own activity outlook[4] net % -1.6 18.4 30.0 9.9 16.9 8.1 ...

Monthly Indicators

Monthly Indicators
    2012M03 2012M04 2012M05 2012M06 2012M07 2012M08 2012M09

External Sector









Merchandise trade - exports mth % chg[1] 8.0 -3.6 1.9 1.9 -2.2 -1.3 ...

ann % chg[1] -8.9 -17.4 -4.1 5.7 9.1 -3.4 ...
Merchandise trade - imports mth % chg[1] 1.9 -0.2 -1.6 12.7 0.3 -8.0 ...

ann % chg[1] -0.4 0.1 2.7 3.6 9.5 -0.4 ...
Merchandise trade balance (12 month total) NZ$ million 267 -554 -850 -762 -768 -866 ...
Visitor arrivals number[1] 210,720 213,450 211,320 216,630 209,570 220,910 ...
Visitor departures number[1] 209,090 219,070 207,760 221,490 218,300 215,870 ...

Housing









Dwelling consents - residential mth % chg[1] 19.0 -7.7 -7.1 5.9 2.0 ... ...

ann % chg[1] 43.4 32.7 20.5 28.3 26.3 ... ...
House sales - dwellings mth % chg[1] -3.6 -8.2 15.3 -3.7 0.2 1.3 ...

ann % chg[1] 25.3 13.8 24.4 17.3 19.9 16.2 ...
REINZ - house price index mth % chg 1.9 -0.3 1.7 0.3 -0.7 1.3 ...

ann % chg 4.2 2.7 6.4 5.3 5.2 6.1 ...

Private Consumption









Electronic card transactions - total retail mth % chg[1] 0.3 1.0 1.0 0.4 -1.1 3.0 ...

ann % chg 5.6 1.2 6.1 5.5 1.1 7.1 ...
New car registrations mth % chg[1] -3.0 3.6 3.7 -0.7 -0.9 -0.1 ...

ann % chg -1.0 8.6 10.3 11.7 10.8 0.8 ...

Migration









Permanent & long-term arrivals number[1] 7,430 6,420 7,020 7,780 6,670 6,810 ...
Permanent & long-term departures number[1] 7,290 7,240 6,910 7,260 7,310 7,140 ...
Net PLT migration (12 month total) number -3,383 -4,006 -3,653 -3,191 -3,799 -4,118 ...

Commodity Prices









Brent oil price US$/Barrel 125.38 120.08 110.24 95.29 102.79 113.36 113.06
WTI oil price US$/Barrel 106.19 103.33 94.7 82.41 87.93 94.16 95.03
ANZ NZ commodity price index mth % chg -0.2 -4.0 0.7 -3.4 -2.9 -0.8 ...

ann % chg -17.9 -17.6 -15.9 -16.1 -15.1 -14.4 ...
ANZ world commodity price index mth % chg -1.7 -4.5 -4.4 -2.4 -0.5 0.6 ...

ann % chg -8.9 -13.9 -17.5 -18.7 -18.6 -15.8 ...

Financial Markets









NZD/USD $[2] 0.8208 0.819 0.7762 0.7801 0.7982 0.8098 0.8163
NZD/AUD $[2] 0.7779 0.7908 0.7766 0.7813 0.7757 0.7733 0.7857
Trade weighted index (TWI) June 1979 = 100[2] 73.00 73.00 70.04 70.86 72.31 72.85 72.72
Official cash rate (OCR) % 2.50 2.50 2.50 2.50 2.50 2.50 2.50
90 day bank bill rate %[2] 2.74 2.74 2.59 2.61 2.67 2.64 2.64
10 year govt bond rate %[2] 4.17 3.98 3.66 3.41 3.40 3.66 3.59

Confidence Indicators/Surveys









National Bank - business confidence net % 33.8 35.8 27.1 12.6 15.1 19.5 17.0
National Bank - activity outlook net % 38.8 36.1 34.9 20.8 24.0 26.4 29.3
ANZ-Roy Morgan - consumer confidence net % 110.2 114.0 113.9 105.8 110.5 114.1 111.9

 

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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