The August update of the Treasury's NZ Activity Index (NZAC) was released today.
Key points to note:
- Activity in August is around 1.4% down compared to August 2019, after a recovery of 2.2% and 0.6% in July and June respectively.
- Most constituent indicators dipped below last year's levels, with the temporary escalation of alert levels.
- The NZAC value for July was revised up from 2% in the previous release to 2.2% due to positive revisions in the value of electronic card spending and new job advertisements for July.
The scaling of NZAC is revised in this update to take into account the June quarter GDP release (see the NZAC technical note for more details). The next update of the NZAC for September activity is scheduled for publication on 23 October.
For more details, you'll find the NZAC first up in this week's Weekly Economic Update.
To access the data, visit the Stats NZ COVID-19 data portal.