New Zealand Key Economic Data
27 September 2012
Quarterly Indicators
| 2011Q1 | 2011Q2 | 2011Q3 | 2011Q4 | 2011Q1 | 2012Q2 | 2012Q3 | ||
|---|---|---|---|---|---|---|---|---|
Gross Domestic Product (GDP) |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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
| 2012M03 | 2012M04 | 2012M05 | 2012M06 | 2012M07 | 2012M08 | 2012M09 | ||
|---|---|---|---|---|---|---|---|---|
External Sector |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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
