Markets Actual Q3 Q4 Q1 Q2 2021
Currency 0.66 0.66 0.65 0.65 0.64 0.64
Stock Market (points) 11645.32 11502 11328 11158 10989 10653
Government Bond 10Y (%) 0.80 0.83 0.86 0.89 0.92 0.98

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -1.60 9 0.4 0.6 1 0.7
GDP Annual Growth Rate (%) -0.20 -4 -5 1.5 2.5 4
Unemployment Rate (%) 4.00 8 7.5 7.5 7.3 7.5
Inflation Rate (%) 1.50 1.4 1.2 1 0.8 0.8
Inflation Rate Mom (%) -0.50 0.7 -0.3 0.4 0.3 0.2
Interest Rate (%) 0.25 0.25 0.25 0.25 0.25 -0.25
Balance of Trade (NZD Million) 426.00 -300 -300 200 250 -300
Current Account (NZD Million) 1557.00 -4800 -2882 500 -700 -2790
Current Account to GDP (%) -3.60 -4 -4 -3.5 -3.5 -3.5
Government Debt to GDP (%) 19.00 32 32 41 38 41
Government Budget (% of GDP) 2.50 -3.5 -3.5 -3 -3 -3
Business Confidence (%) -31.80 -25 -20 -15 -10 10
Manufacturing PMI (points) 56.30 45 48 49 50 50.5
Consumer Confidence (points) 97.20 100 105 109 108 110
Retail Sales MoM (%) -0.70 -1.4 0.6 1 1.3 1.5
Building Permits 3477.00 3400 3300 3200 3300 3400
Corporate Tax Rate (%) 28.00 28 28 28 28 28
Personal Income Tax Rate (%) 33.00 33 33 33 33 33

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -1.60 9 0.4 0.6 1 0.7
GDP Annual Growth Rate (%) -0.20 -4 -5 1.5 2.5 4
GDP (USD Billion) 206.93 196 196 196 205 205
GDP Constant Prices (NZD Million) 63631.00 63041 61229 64585 65222 63679
Gross National Product (NZD Million) 66698.00 66649 64428 67698 68365 67005
Gross Fixed Capital Formation (NZD Million) 15603.00 15796 15286 15837 15993 15897
GDP per capita (USD) 38993.00 37300 37300 38000 38000 38000
GDP per capita PPP (USD) 42887.52 41090 41090 41730 41730 41730
GDP From Agriculture (NZD Million) 3341.00 3345 3234 3391 3425 3363
GDP From Construction (NZD Million) 3927.00 4020 3887 3986 4025 4043
GDP From Manufacturing (NZD Million) 5956.00 6004 5797 6045 6105 6029
GDP From Mining (NZD Million) 814.00 743 741 826 834 771
GDP From Public Administration (NZD Million) 2909.00 2781 2769 2953 2982 2880
GDP From Services (NZD Million) 42403.00 41786 40738 43039 43463 42367
GDP From Transport (NZD Million) 2662.00 2716 2668 2702 2729 2774
GDP From Utilities (NZD Million) 1719.00 1675 1644 1745 1762 1710

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 4.00 8 7.5 7.5 7.3 7.5
Employed Persons (Thousand ) 2665.00 2610 2600 2620 2640 2720
Unemployed Persons (Thousand ) 111.00 125 122 120 118 120
Employment Change (%) -0.40 -0.3 0.2 0.5 0.7 0.6
Labor Force Participation Rate (%) 69.70 69.9 70 70.3 70.3 70.8
Labour Costs (points) 1218.00 1215 1220 1219 1221 1221
Productivity (points) 125.77 127 128 128 128 130
Job Vacancies (points) 102.84 169 167 170 173 180
Wages (NZD/Hour) 33.37 31.93 32.18 32.35 32.35 33.06
Wages in Manufacturing (NZD/Hour) 31.34 32 34 34 34 34
Minimum Wages (NZD/Hour) 18.90 18.9 18.9 20.1 20.1 20.1
Population (Million) 4.95 5.02 5.11 5.11 5.11 5.2
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Part Time Employment (Thousand) 530.00 520 523 526 530 540
Youth Unemployment Rate (%) 14.00 16 16.5 16 15.5 14.5
Employment Rate (%) 67.50 66.1 65.3 66.3 66.5 66.7
Full Time Employment (Thousand) 2131.00 2130 2138 2142 2148 2150

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) 1.50 1.4 1.2 1 0.8 0.8
Inflation Rate Mom (%) -0.50 0.7 -0.3 0.4 0.3 0.2
Consumer Price Index CPI (points) 1047.00 1054 1057 1063 1060 1065
Core Consumer Prices (points) 1048.00 1056 1061 1067 1065 1074
Core Inflation Rate (%) 1.60 1.6 1.5 1.3 1.1 1.3
Producer Prices (points) 1165.00 1168 1170 1171 1173 1178
Export Prices (points) 1266.00 1255 1269 1271 1273 1204
Import Prices (points) 850.00 844 846 852 855 859
Inflation Expectations (%) 1.40 1 0.8 1.5 2 2
Cpi Housing Utilities (points) 1094.00 1088 1091 1099 1097 1100
CPI Transportation (points) 980.00 1042 1062 1041 1039 1070
Food Inflation (%) 4.10 3.5 3 2.8 2.5 2.1

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 0.25 0.25 0.25 0.25 0.25 -0.25
Foreign Exchange Reserves (NZD Million) 28620.00 29200 29300 29300 29400 29400
Banks Balance Sheet (NZD Million) 620968.00 632000 630000 595000 593000 590000
Deposit Interest Rate (%) 0.15 0.15 0.15 0.15 0.15 0.15
Central Bank Balance Sheet (NZD Million) 56016.00 51500 51400 51000 49000 46500

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (NZD Million) 426.00 -300 -300 200 250 -300
Current Account (NZD Million) 1557.00 -4800 -2882 500 -700 -2790
Current Account to GDP (%) -3.60 -4 -4 -3.5 -3.5 -3.5
Imports (NZD Million) 4640.00 5200 5400 5100 5150 5300
Exports (NZD Million) 5070.00 4900 5100 5300 5400 5400
External Debt (NZD Million) 302703.00 304500 304800 305000 305100 306000
Terms of Trade (points) 1490.00 149 150 149 149 140
Capital Flows (NZD Million) -7762.00 -2500 -1000 300 1000 1802
Foreign Direct Investment (NZD Million) 1299.00 470 470 516 516 516
Tourist Arrivals 2189.00 153000 190000 210000 215000 355000
Weapons Sales (USD Million) 6.00 1.5 1.5 1.5 1.5 1.5

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 19.00 32 32 41 38 41
Government Budget (% of GDP) 2.50 -3.5 -3.5 -3 -3 -3
Government Budget Value (NZD Million) 7508.00 3000 3000 3000 9933 9933
Government Spending (NZD Million) 12445.00 11976 11823 12632 12756 12296
Government Revenues (NZD Million) 119293.00 101000 101000 110000 110000 118329
Fiscal Expenditure (NZD Million) 111439.00 99000 99000 99000 108396 108396
Military Expenditure (USD Million) 2307.00 2480 2480 2480 2480 2480
Government Debt (NZD Million) 57736.00 87000 87000 125000 125000 125000

Taxes Actual Q3 Q4 Q1 Q2 2021
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 Q3 Q4 Q1 Q2 2021
Business Confidence (%) -31.80 -25 -20 -15 -10 10
Manufacturing PMI (points) 56.30 45 48 49 50 50.5
Industrial Production (%) -1.90 -6 -2.5 1.6 8.3 2.5
Capacity Utilization (%) 92.80 92.5 91 92 92.5 93
Changes in Inventories (NZD Million) -513.00 340 380 380 380 380
Car Registrations 5063.00 4300 4700 4800 4900 5100
Services Pmi (points) 54.10 53 52.5 52 52.3 52.8
Composite Pmi (points) 55.90 54 53.5 53.7 53.9 52.5

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) 97.20 100 105 109 108 110
Retail Sales MoM (%) -0.70 -1.4 0.6 1 1.3 1.5
Retail Sales YoY (%) 2.30 -3.5 -1.5 0.3 1.5 2.5
Consumer Spending (NZD Million) 39708.00 38890 37820 40304 40701 39332
Private Sector Credit (NZD Million) 484896.00 490000 491000 492000 493000 496315
Bank Lending Rate (%) 8.34 8.35 8.35 8.35 8.35 8.35
Credit Card Spending (NZD Million) 6241.00 5610 5750 5750 5930 6070
Households Debt To GDP (% of GDP) 94.40 94.8 94.6 94.3 94.1 93.9
Households Debt To Income (%) 163.40 164 164 164 164 163

Housing Actual Q3 Q4 Q1 Q2 2021
Building Permits 3477.00 3400 3300 3200 3300 3400
Housing Index (%) 0.90 -0.9 0.3 0.5 0.7 1
Home Ownership Rate (%) 64.80 64.29 64.29 64.29 64.29 64.29
Construction Output (%) -4.20 -5 -3 2.5 3.5 6.8


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.