Markets Actual Q4 Q1 Q2 Q3 2021
Currency 0.71 0.7 0.7 0.69 0.69 0.68
Stock Market (points) 12728.69 12536 12347 12161 11978 11611
Government Bond 10Y (%) 0.93 0.96 1 1.03 1.07 1.14

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -12.20 1.2 -1.5 1 1 0.7
GDP Annual Growth Rate (%) -12.40 -5 -4 16.5 2 4
Unemployment Rate (%) 5.30 6.2 6.4 6.6 6.9 7.2
Inflation Rate (%) 1.40 1.1 0.9 1.2 1.1 0.9
Inflation Rate Mom (%) 0.70 0.1 0.4 0.2 0.3 0.2
Interest Rate (%) 0.25 0.25 0.25 -0.25 -0.25 -0.25
Balance of Trade (NZD Million) -500.73 -1000 210 250 -10 -300
Current Account (NZD Million) 1828.00 900 500 -700 -3250 -2790
Current Account to GDP (%) -3.60 -3 -4 -4 -4 -4
Government Debt to GDP (%) 19.00 32 41 41 41 41
Government Budget (% of GDP) 2.50 -8 -9 -9 -9 -9
Business Confidence (%) -6.90 -7.5 -7 -6.5 -6.5 -6.3
Manufacturing PMI (points) 51.70 53.7 53.5 53.3 53 53
Consumer Confidence (points) 95.10 96 98 100 102 103
Retail Sales MoM (%) 28.00 0.6 1 1.3 1.5 1.5
Building Permits 3298.00 3300 3200 3300 3350 3400
Corporate Tax Rate (%) 28.00 28 28 28 28 28
Personal Income Tax Rate (%) 33.00 33 33 33 33 33

GDP Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -12.20 1.2 -1.5 1 1 0.7
GDP Annual Growth Rate (%) -12.40 -5 -4 16.5 2 4
GDP (USD Billion) 206.93 196 196 205 205 205
GDP Constant Prices (NZD Million) 57534.00 65602 61229 61086 74130 67439
Gross National Product (NZD Million) 58711.00 68739 64428 64030 77703 70664
Gross Fixed Capital Formation (NZD Million) 12368.00 16242 15286 14979 18177 16697
GDP per capita (USD) 38993.00 37300 38000 38000 38000 38000
GDP per capita PPP (USD) 42887.52 41090 41730 41730 41630 41730
GDP From Agriculture (NZD Million) 3265.00 3540 3234 3207 3892 3640
GDP From Construction (NZD Million) 2911.00 3980 3887 3770 4575 4091
GDP From Manufacturing (NZD Million) 5177.00 6340 5797 5718 6939 6518
GDP From Mining (NZD Million) 499.00 767 741 781 948 789
GDP From Public Administration (NZD Million) 2841.00 2869 2769 2793 3389 2950
GDP From Services (NZD Million) 37700.00 44249 40738 40707 49399 45488
GDP From Transport (NZD Million) 1632.00 3105 2668 2556 3101 3192
GDP From Utilities (NZD Million) 1608.00 1771 1644 1650 2003 1821

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 5.30 6.2 6.4 6.6 6.9 7.2
Employed Persons (Thousand ) 2709.00 2600 2620 2640 2660 2720
Unemployed Persons (Thousand ) 151.00 122 120 118 119 120
Employment Change (%) -0.80 0.2 0.5 0.7 0.6 0.6
Labor Force Participation Rate (%) 70.10 70 70.3 70.3 70.4 70.8
Labour Costs (points) 1225.00 1218 1219 1221 1219 1221
Productivity (points) 113.55 127 128 128 129 129
Job Vacancies (points) 125.80 108 115 125 132 150
Wages (NZD/Hour) 33.86 31.93 32.18 32.35 32.35 33.06
Wages in Manufacturing (NZD/Hour) 32.09 34 34 34 34 34
Minimum Wages (NZD/Hour) 18.90 18.9 20.1 20.1 20.1 20.1
Population (Million) 4.95 5.11 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) 544.00 523 526 530 535 540
Youth Unemployment Rate (%) 12.60 12.9 12.6 12.1 13.9 13.6
Employment Rate (%) 66.40 65.3 66.3 66.5 66.6 66.7
Full Time Employment (Thousand) 2164.00 2138 2142 2148 2125 2150

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) 1.40 1.1 0.9 1.2 1.1 0.9
Inflation Rate Mom (%) 0.70 0.1 0.4 0.2 0.3 0.2
Consumer Price Index CPI (points) 1054.00 1055 1061 1060 1059 1065
Core Consumer Prices (points) 1054.00 1068 1059 1065 1060 1091
Core Inflation Rate (%) 1.40 1.3 1.1 1.1 1.2 1.3
Producer Prices (points) 1161.00 1162 1166 1169 1170 1173
Export Prices (points) 1267.00 1340 1325 1320 1323 1325
Import Prices (points) 834.00 852 852 855 857 859
Inflation Expectations (%) 1.60 1.4 1.3 1.2 1.4 1.6
Cpi Housing Utilities (points) 1101.00 1090 1098 1107 1106 1100
CPI Transportation (points) 987.00 1061 1040 992 991 1070
Food Inflation (%) 2.70 4 3.8 3.5 3.3 3.1

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 0.25 0.25 0.25 -0.25 -0.25 -0.25
Foreign Exchange Reserves (NZD Million) 20097.00 25800 26300 26900 27500 28400
Banks Balance Sheet (NZD Million) 621339.00 630000 595000 593000 590000 590000
Deposit Interest Rate (%) 0.17 3.2 0.2 0.2 -0.3 4.45
Central Bank Balance Sheet (NZD Million) 66590.00 59500 60100 59800 59100 56500

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (NZD Million) -500.73 -1000 210 250 -10 -300
Current Account (NZD Million) 1828.00 900 500 -700 -3250 -2790
Current Account to GDP (%) -3.60 -3 -4 -4 -4 -4
Imports (NZD Million) 5285.17 4950 5090 5150 5210 5300
Exports (NZD Million) 4784.44 5100 5300 5400 5200 5400
External Debt (NZD Million) 295601.00 304800 305000 305100 305600 306000
Terms of Trade (points) 1528.00 1460 1450 1448 154 1430
Capital Flows (NZD Million) 4753.00 4900 1200 1000 1300 1802
Foreign Direct Investment (NZD Million) 945.00 890 950 1080 1190 1000
Tourist Arrivals 8550.00 8500 11000 55000 90000 155000
Weapons Sales (USD Million) 6.00 3 3 3 3 3

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 19.00 32 41 41 41 41
Government Budget (% of GDP) 2.50 -8 -9 -9 -9 -9
Government Budget Value (NZD Million) 7508.00 -4500 -5300 -5300 -5300 -5300
Government Spending (NZD Million) 12736.00 12042 11823 11947 14498 12379
Government Revenues (NZD Million) 116003.00 101000 110000 110000 110000 110000
Fiscal Expenditure (NZD Million) 138916.00 125500 122000 122000 122000 122000
Military Expenditure (USD Million) 2307.00 2120 2250 2250 2250 2250
Government Debt (NZD Million) 57736.00 87000 125000 125000 125000 125000

Taxes Actual Q4 Q1 Q2 Q3 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 Q4 Q1 Q2 Q3 2021
Business Confidence (%) -6.90 -7.5 -7 -6.5 -6.5 -6.3
Manufacturing PMI (points) 51.70 53.7 53.5 53.3 53 53
Industrial Production (%) -12.10 -2.5 1.6 8.3 5.5 2.5
Capacity Utilization (%) 92.60 93.2 93.5 93.5 93.8 93.8
Changes in Inventories (NZD Million) -1129.00 -80 150 230 310 380
Car Registrations 4364.00 4800 4850 4900 5050 5100
Services PMI (points) 51.40 50.5 51 51.5 52 52.5
Bankruptcies (Individuals) 95.00 100 97 95 91 87
Composite PMI (points) 52.40 50.4 51 51.5 52 52.5

Consumer Actual Q4 Q1 Q2 Q3 2021
Consumer Confidence (points) 95.10 96 98 100 102 103
Retail Sales MoM (%) 28.00 0.6 1 1.3 1.5 1.5
Retail Sales YoY (%) 8.30 -1.5 0.3 13.2 4.5 2.5
Consumer Spending (NZD Million) 35197.00 41091 37820 38120 46260 42242
Private Sector Credit (NZD Million) 486474.00 491000 492000 493000 494200 496315
Bank Lending Rate (%) 8.37 9.42 8.38 8.38 7.88 10.67
Credit Card Spending (NZD Million) 6241.00 5750 5850 5930 5990 6070
Households Debt To GDP (% of GDP) 94.80 94.6 94.1 94.1 94.1 94.1
Households Debt To Income (%) 163.80 164 164 164 164 163

Housing Actual Q4 Q1 Q2 Q3 2021
Building Permits 3298.00 3300 3200 3300 3350 3400
Housing Index (%) 1.90 1.5 1 0.7 0.8 1
Home Ownership Rate (%) 64.80 64.29 64.29 64.29 64.29 64.29
Construction Output (%) -24.20 -5 0.5 15 7 4.5


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.