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.

Overview	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
GDP Growth Rate	1.00	0.7	0.6	0.6	0.8	1	percent
Unemployment Rate	3.90	4.6	4.5	4.5	4.4	4.3	percent
Inflation Rate	1.90	1.4	1.6	1.7	1.9	2.1	percent
Interest Rate	1.75	1.75	1.75	1.75	2	2	percent
Balance of Trade	-1559.87	-450	400	-500	-1550	-300	NZD Million
Government Debt to GDP	22.20	21.5	20	20	20	21	percent


MARKETS	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Currency	0.69	0.65	0.65	0.64	0.64	0.62
Stock Market	8809.70 points	9261	9196	9130	9065	8810
Government Bond 10Y	2.74 percent	2.64	2.68	2.72	2.76	2.93

GDP	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
GDP Growth Rate	1.00 percent	0.7	0.6	0.6	0.8	1
GDP Annual Growth Rate	2.80 percent	2.7	2.8	3.1	2.5	2.6
GDP	205.85 USD Billion	215	225	225	225	250
GDP Constant Prices	61875.00 NZD Million	62535	62791	63484	63235	65893
Gross National Product	65229.00 NZD Million	65855	66638	67251	66860	69527
Gross Fixed Capital Formation	15637.00 NZD Million	16014	16086	16122	16028	16907
GDP per capita	37852.87 USD	38100	38500	38500	38500	38900
GDP per capita PPP	36085.84 USD	36600	37100	37100	37100	37700
GDP From Agriculture	3360.00 NZD Million	3281	3318	3464	3444	3464
GDP From Construction	3824.00 NZD Million	3941	3909	3943	3920	4160
GDP From Manufacturing	6000.00 NZD Million	6103	6142	6186	6150	6444
GDP From Mining	602.00 NZD Million	784	774	621	617	827
GDP From Public Administration	2611.00 NZD Million	2633	2676	2692	2676	2780
GDP From Services	41215.00 NZD Million	41648	41938	42493	42245	43970
GDP From Transport	2877.00 NZD Million	2886	2905	2966	2949	3047
GDP From Utilities	1784.00 NZD Million	1777	1768	1839	1829	1876

LABOUR	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Unemployment Rate	3.90 percent	4.6	4.5	4.5	4.4	4.3
Employed Persons	2663.00 Thousand	2654	2600	2640	2645	2700
Unemployed Persons	109.00 Thousand	124	123	124	125	125
Employment Change	1.10 percent	0.5	1.1	0.2	0.79	0.4
Labor Force Participation Rate	71.10 percent	70.9	70.8	70.8	70.9	71.2
Labour Costs	1174.00 Index Points	1179	1184	1190	1195	1241
Productivity	168.99 Index Points	169	169	169	169	169
Job Vacancies	190.92 Index Points	189	189	189	189	189
Job Advertisements	45508.88	45887	46336	46640	46830	47167
Wages	31.39 NZD/Hour	31.57	31.8	31.93	32.18	33.72
Wages in Manufacturing	29.92 NZD/Hour	29.7	31.2	30.12	30.45	34
Minimum Wages	16.50 NZD/Hour	16.5	18	18	18	20
Population	4.84 Million	4.91	5.1	5.1	5.1	5.2
Retirement Age Women	65.00	65	65	65	65	65
Retirement Age Men	65.00	65	65	65	65	65
Youth Unemployment Rate	10.90 percent	11.44	11.53	11.22	11.19	11.31
Part Time Employment	554.00 Thousand	560	557	558	561	580
Employment Rate	68.30 percent	68.39	68.51	68.62	68.68	68.9
Full Time Employment	2107.00 Thousand	2125	2141	2156	2171	2280

PRICES	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Inflation Rate	1.90 percent	1.4	1.6	1.7	1.9	2.1
Inflation Rate Mom	0.90 percent	0.3	0.4	0.5	0.7	0.3
Consumer Price Index CPI	1024.00 Index Points	1020	1027	1032	1043	1060
Core Consumer Prices	1024.00 Index Points	1028	1035	1041	1047	1071
Core Inflation Rate	1.90 percent	2.2	2.32	2.58	2.25	2.11
GDP Deflator	1183.00 Index Points	1180	1182	1182	1181	1182
Producer Prices	1124.00 Index Points	1130	1134	1134	1140	1145
Export Prices	1182.00 Index Points	1189	1197	1186	1189	1188
Import Prices	814.00 Index Points	835	843	851	856	875
Inflation Expectations	2.03 percent	2.07	2.03	2.01	2.02	2.01
Food Inflation	0.60 percent	0.6	1	2	2	1.7
Cpi Housing Utilities	1042.00 Index Points	1030	1038	1049	1062	1071
CPI Transportation	1044.00 Index Points	1034	1034	1037	1064	1075

MONEY	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Interest Rate	1.75 percent	1.75	1.75	1.75	2	2
Interbank Rate	2.52 percent	2.52	2.52	2.52	2.77	2.77
Money Supply M0	6538.00 NZD Million	8920	8857	8859	8859	8859
Money Supply M1	67345.00 NZD Million	68950	70406	71819	73218	85370
Money Supply M3	302781.00 NZD Million	302203	301649	301484	301429	301435
Foreign Exchange Reserves	27645.00 NZD Million	29302	28964	29073	29068	29066
Banks Balance Sheet	546634.00 NZD Million	551271	551742	552447	552406	552560
Deposit Interest Rate	3.20 percent	3.2	3.2	3.2	3.45	3.45
Loans To Private Sector	110547.00 NZD Million	111955	112820	113602	114331	118888
Central Bank Balance Sheet	28882.00 NZD Million	28949	29074	29037	29032	29036

TRADE	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Balance of Trade	-1559.87 NZD Million	-450	400	-500	-1550	-300
Exports	4327.71 NZD Million	5250	5500	4800	3900	5100
Imports	5887.57 NZD Million	5700	5100	5300	5450	5400
Current Account	-1620.00 NZD Million	-2922	75	-650	-4271	-2882
Current Account to GDP	-2.80 percent	-2.8	-2.5	-2.5	-2.5	-2.4
External Debt	278453.00 NZD Million	282124	283751	285588	287288	301741
Terms of Trade	1452.00 Index Points	1401	1419	1394	1390	1358
Capital Flows	-1736.00 NZD Million	2374	1388	414	1301	1734
Foreign Direct Investment	-1510.00 NZD Million	297	818	622	501	508
Tourist Arrivals	258155.00	550000	390000	390000	250000	530000
Terrorism Index	0.61	0.4	0.2	0.2	0.61	0.3
Weapons Sales	4.00 USD Million	2.5	5	5	5	1.5
Crude Oil Production	25.00 BBL/D/1K	24.54	24.55	24.55	24.55	24.55

GOVERNMENT	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Government Debt to GDP	22.20 percent	21.5	20	20	20	21
Government Budget	1.50 percent of GDP	2	1.6	1.6	1.6	1
Government Budget Value	4069.00 NZD Million	6588	8143	8373	8602	12240
Government Spending	11766.00 NZD Million	11736	11839	12131	12060	12390
Government Revenues	109973.00 NZD Million	108100	111193	112641	114089	122913
Fiscal Expenditure	104014.00 NZD Million	101512	103049	104268	105487	110673
Military Expenditure	2225.60 USD Million	2300	2450	2450	2450	2480
Asylum Applications	23.00 Persons	18.57	18.97	18.45	18.77	18.66
Government Debt	59480.00 NZD Million	61000	58000	58000	58000	57000

BUSINESS	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Business Confidence	-37.10 percent	-34	-32	-30	-27	15
Manufacturing PMI	53.50	52.3	53.1	52.6	53	54
Industrial Production	2.10 percent	2.8	3	3.6	1.81	3.4
Capacity Utilization	93.20 percent	92.47	92.58	92.52	92.62	92.73
Changes in Inventories	136.00 NZD Million	450	600	80	-400	380
Car Registrations	5488.00	5906	5555	5554	5552	5551
Internet Speed	14708.73 KBps	21208	22079	22937	23780	30799
IP Addresses	1778178.00 IP	1899649	1894925	1902392	1903245	1908450
Services Pmi	53.90	57.54	53.4	53.29	53.22	53.12
Steel Production	47.56 Thousand Tonnes	53.97	53.84	54.2	54.07	54
Competitiveness Index	77.51 Points	78.01	78.01	78.01	78.01	80.51
Competitiveness Rank	18.00	18	18	18	18	18
Composite Pmi	53.10	53.4	54.1	53.7	53	53.8
Ease of Doing Business	1.00	1	1	2	2	2
Corruption Index	89.00 Points	89	89	89	89	89
Corruption Rank	1.00	1	1	1	1	1

CONSUMER	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Consumer Confidence	103.50 Index Points	104	104	104	105	106
Retail Sales MoM	1.10 percent	1.1	1.2	1.1	1.1	1.3
Retail Sales YoY	3.10 percent	4	4.2	3.8	3.6	3.7
Consumer Spending	37833.00 NZD Million	38450	38501	39006	38779	40594
Private Sector Credit	446475.00 NZD Million	451811	457275	462701	468009	511715
Bank Lending Rate	9.34 percent	9.33	9.33	9.33	9.58	9.58
Households Debt To GDP	92.20 percent of GDP	92.56	92.67	92.78	92.89	93.49
Households Debt To Income	166.00 percent	166	166	166	166	166

HOUSING	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Building Permits	2675.00	2000	2100	2150	2300	2400
Housing Index	0.80 percent	-0.2	0.5	0.3	0.7	1.2
Construction Output	8.10 percent	3.7	3.8	4	3.6	4
Home Ownership Rate	64.80 percent	64.58	64.29	64.29	64.29	62.6

TAXES	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Corporate Tax Rate	28.00 percent	28	28	28	28	28
Personal Income Tax Rate	33.00 percent	33	33	33	33	33
Sales Tax Rate	15.00 percent	15	15	15	15	15
Social Security Rate	11.00 percent	11	11	11	11	11
Social Security Rate For Companies	3.00 percent	3	3	3	3	3
Social Security Rate For Employees	8.00 percent	8	8	8	8	8

CLIMATE	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Temperature	8.20 celsius	11.86	14.61	10.45	11.33	10.62

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New Zealand - Economic Forecasts - 2018-2020 Outlook

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