Markets Actual Q1 Q2 Q3 Q4 2022
Currency 0.72 0.73 0.73 0.72 0.72 0.71
Stock Market (points) 12227.29 12043 11860 11682 11506 11154
Government Bond 10Y (%) 1.92 1.99 2.06 2.13 2.2 2.34

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 14.00 0.1 2 0.2 0.3 1
GDP Annual Growth Rate (%) 0.40 3 16.5 2 4 4
Unemployment Rate (%) 4.90 5 5.2 5.1 5 4.7
Inflation Rate (%) 1.40 1.4 2.4 2.3 1.9 1.2
Inflation Rate Mom (%) 0.50 0.8 0.6 0.6 0.1 0.2
Interest Rate (%) 0.25 0.25 0.25 0.25 0.25 0.5
Balance of Trade (NZD Million) -626.00 210 250 -10 -300 300
Current Account (NZD Million) -3521.00 500 -700 -3250 -2790 -2400
Current Account to GDP (%) -3.60 -2.5 -2.5 -2.5 -2.5 -3
Government Debt to GDP (%) 19.00 41 41 41 41 47
Government Budget (% of GDP) 2.50 -9 -9 -9 -9 -8.3
Business Confidence (%) 7.00 5 10 12 6.3 7
Manufacturing PMI (points) 57.50 53.5 53.3 53 53 52.5
Consumer Confidence (points) 106.00 110 112 102 103 105
Retail Sales MoM (%) -2.70 1 1.3 1.5 1.5 1.7
Building Permits 3883.00 3200 3300 3350 3400 3800
Corporate Tax Rate (%) 28.00 28 28 28 28 28
Personal Income Tax Rate (%) 33.00 33 33 33 33 33

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 14.00 0.1 2 0.2 0.3 1
GDP Annual Growth Rate (%) 0.40 3 16.5 2 4 4
GDP (USD Billion) 206.93 196 205 205 205 212
GDP Constant Prices (NZD Million) 68502.00 64800 65684 67027 67439 67392
Gross National Product (NZD Million) 70256.00 68450 69115 68398 70664 71188
Gross Fixed Capital Formation (NZD Million) 16315.00 16189 16077 14409 16697 16837
GDP per capita (USD) 38993.00 38000 38000 38000 38000 38800
GDP per capita PPP (USD) 42887.52 41730 41730 41630 41730 42400
GDP From Agriculture (NZD Million) 3197.00 3413 3437 3804 3640 3550
GDP From Construction (NZD Million) 4576.00 4103 4039 3391 4091 4267
GDP From Manufacturing (NZD Million) 6242.00 6105 6131 6031 6518 6349
GDP From Mining (NZD Million) 622.00 789 917 581 789 821
GDP From Public Administration (NZD Million) 3018.00 2933 3012 3310 2950 3050
GDP From Services (NZD Million) 43084.00 42870 43584 43921 45488 44585
GDP From Transport (NZD Million) 1854.00 2817 2741 1901 3192 2930
GDP From Utilities (NZD Million) 1714.00 1743 1762 1873 1821 1813

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 4.90 5 5.2 5.1 5 4.7
Employed Persons (Thousand ) 2734.00 2620 2640 2660 2720 2720
Unemployed Persons (Thousand ) 141.00 120 118 119 120 117
Employment Change (%) 0.60 0.2 0.7 0.6 0.6 0.6
Labor Force Participation Rate (%) 70.20 70.3 70.3 70.4 70.8 70.8
Labour Costs (points) 1236.00 1219 1221 1219 1219 1221
Productivity (points) 133.00 128 128 129 129 131
Job Vacancies (index points) 161.28 125 130 132 150 180
Wages (NZD/Hour) 34.20 34.18 34.35 34.7 35 36.72
Wages in Manufacturing (NZD/Hour) 32.19 33.3 33.3 34.5 35 36
Minimum Wages (NZD/Hour) 18.90 20.1 20.1 20.1 20.1 21.3
Population (Million) 5.11 5.2 5.2 5.2 5.2 5.3
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Part Time Employment (Thousand) 534.00 536 530 535 540 540
Youth Unemployment Rate (%) 13.67 12.6 12.1 13 12.6 12
Employment Rate (%) 66.80 66.3 66.5 66.6 66.7 66.7
Full Time Employment (Thousand) 2197.00 2142 2148 2125 2150 2150

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 1.40 1.4 2.4 2.3 1.9 1.2
Inflation Rate Mom (%) 0.50 0.8 0.6 0.6 0.1 0.2
Consumer Price Index CPI (points) 1059.00 1067 1072 1078 1079 1092
Core Consumer Prices (points) 1060.00 1068 1059 1065 1091 1091
Core Inflation Rate (%) 1.40 1.1 1.1 1.2 1.3 1.6
Producer Prices (points) 1161.00 1166 1169 1170 1173 1180
Export Prices (points) 1190.00 1325 1320 1323 1325 1320
Import Prices (points) 818.00 852 855 857 859 863
Inflation Expectations (%) 1.89 1.9 1.2 1.4 1.6 1.9
Cpi Housing Utilities (points) 1106.00 1103 1120 1126 1127 1141
CPI Transportation (points) 1010.00 1045 1004 1010 1029 1042
Food Inflation (%) 2.10 3.8 3.5 3.3 3.1 2.5

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 0.25 0.25 0.25 0.25 0.25 0.5
Foreign Exchange Reserves (NZD Million) 18715.00 26300 26900 27500 28400 30800
Banks Balance Sheet (NZD Million) 621339.00 595000 593000 590000 590000 583000
Deposit Interest Rate (%) 0.20 0.26 0.26 0.26 0.26 0.51
Central Bank Balance Sheet (NZD Million) 74824.00 69100 68800 67100 66500 51500

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (NZD Million) -626.00 210 250 -10 -300 300
Current Account (NZD Million) -3521.00 500 -700 -3250 -2790 -2400
Current Account to GDP (%) -3.60 -2.5 -2.5 -2.5 -2.5 -3
Imports (NZD Million) 4820.00 5090 5150 5210 5300 5300
Exports (NZD Million) 4190.00 5300 5400 5200 5400 5600
External Debt (NZD Million) 289958.00 305000 305100 305600 306000 305000
Terms of Trade (points) 1454.00 156 154 154 154 153
Capital Flows (NZD Million) 4249.00 1200 1000 1300 1300 1802
Foreign Direct Investment (NZD Million) 1883.00 950 1080 1190 1000 800
Tourist Arrivals 5900.00 8000 40000 90000 155000 295000
Weapons Sales (USD Million) 6.00 3 3 3 3 2

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 19.00 41 41 41 41 47
Government Budget (% of GDP) 2.50 -9 -9 -9 -9 -8.3
Government Budget Value (NZD Million) 7508.00 -5300 -5300 -5300 -5300 -4100
Government Spending (NZD Million) 13037.00 12478 12901 14837 12379 12977
Government Revenues (NZD Million) 116003.00 110000 110000 110000 110000 119000
Fiscal Expenditure (NZD Million) 138916.00 122000 122000 122000 122000 123000
Military Expenditure (USD Million) 2307.00 2250 2250 2250 2250 2380
Government Debt (NZD Million) 57736.00 125000 125000 125000 125000 160000

Taxes Actual Q1 Q2 Q3 Q4 2022
Corporate Tax Rate (%) 28.00 28 28 28 28 28
Personal Income Tax Rate (%) 33.00 33 33 33 33 33
Sales Tax Rate (%) 15.00 15 15 15 15 15
Social Security Rate (%) 11.00 11 11 11 11 11
Social Security Rate For Companies (%) 3.00 3 3 3 3 3
Social Security Rate For Employees (%) 8.00 8 8 8 8 8

Business Actual Q1 Q2 Q3 Q4 2022
Business Confidence (%) 7.00 5 10 12 6.3 7
Manufacturing PMI (points) 57.50 53.5 53.3 53 53 52.5
Industrial Production (%) 3.10 1.6 8.3 5.5 5.5 2.5
Capacity Utilization (%) 95.10 93.5 93.5 93.8 93.8 93.6
Changes in Inventories (NZD Million) -60.00 150 230 310 310 410
Car Registrations 4613.00 4850 4900 5050 5100 5400
Services PMI (points) 47.90 51 51.5 52 52.5 53
Bankruptcies (Individuals) 28.00 97 95 91 87 83
Composite PMI (points) 52.50 51 51.5 52 52.5 53.3

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Confidence (points) 106.00 110 112 102 103 105
Retail Sales MoM (%) -2.70 1 1.3 1.5 1.5 1.7
Retail Sales YoY (%) 4.80 1.3 13.2 4.5 2.5 2.5
Consumer Spending (NZD Million) 41335.00 40318 41241 41005 42242 41930
Private Sector Credit (NZD Million) 495805.00 498903 502180 505457 508733 521839
Bank Lending Rate (%) 8.37 8.37 8.37 8.37 8.37 8.62
Credit Card Spending (NZD Million) 5986.00 5850 5930 5990 6070 6190
Households Debt To GDP (% of GDP) 96.90 94.1 94.1 94.1 94.1 94.1
Households Debt To Income (%) 162.70 164 164 164 163 162

Housing Actual Q1 Q2 Q3 Q4 2022
Building Permits 3883.00 3200 3300 3350 3400 3800
Housing Index (%) 1.30 2 2.7 1.8 1 1
Home Ownership Rate (%) 64.80 64.29 64.29 64.29 64.29 64.29
Construction Output (%) 2.40 9 15 7 6 5


This page has economic forecasts for New Zealand including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the New Zealand economy.