The February 2021 update of the Treasury's NZ Activity Index (NZAC) was released today.
Key points to note:
- The NZAC index exhibited modest growth in February (+0.5% on February last year).
- Electronic card spending is 4.5% down compared to February 2020. Electricity grid demand and online job ads are also down.
- The index is being buoyed by positive growth in traffic flows and manufacturing activity.
The next update of the NZAC for March activity is scheduled for publication on 16 April. This will take into account the December quarter GDP release due to be published on 18 March. Depending on the level of December quarter GDP, there may be a revision to the scaling of NZAC (see the NZAC technical note for more details).
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.