Markets Actual Q3 Q4 Q1 Q2 2021
Currency 0.66 0.65 0.65 0.64 0.64 0.63
Stock Market (points) 11767.19 11565 11390 11218 11049 10711
Government Bond 10Y (%) 0.54 0.5 0.52 0.53 0.55 0.59

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -12.20 11.5 1.2 -1.5 1 0.7
GDP Annual Growth Rate (%) -12.40 -6 -5 -4 16.5 4
Unemployment Rate (%) 4.00 6.5 7.5 7.5 7.3 7.5
Inflation Rate (%) 1.50 1.4 1.1 0.9 1.2 0.9
Inflation Rate Mom (%) -0.50 0.7 0.1 0.4 0.2 0.2
Interest Rate (%) 0.25 0.25 0.25 0.25 -0.25 -0.25
Balance of Trade (NZD Million) -352.67 100 -300 210 250 -300
Current Account (NZD Million) 1828.00 1100 900 500 -700 -2790
Current Account to GDP (%) -3.60 -3 -3 -4 -4 -4
Government Debt to GDP (%) 19.00 32 32 41 41 41
Government Budget (% of GDP) 2.50 -8 -8 -9 -9 -9
Business Confidence (%) -28.50 -40.5 -38 -31 -28 -18
Manufacturing PMI (points) 50.70 51.1 51.7 52.3 52.6 53
Consumer Confidence (points) 95.10 98.5 96 98 100 103
Retail Sales MoM (%) -14.60 10 0.6 1 1.3 1.5
Building Permits 3182.00 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 (%) -12.20 11.5 1.2 -1.5 1 0.7
GDP Annual Growth Rate (%) -12.40 -6 -5 -4 16.5 4
GDP (USD Billion) 206.93 196 196 196 205 205
GDP Constant Prices (NZD Million) 57534.00 62398 61229 61086 74130 63679
Gross National Product (NZD Million) 58711.00 65969 64428 64030 77703 67005
Gross Fixed Capital Formation (NZD Million) 12368.00 15634 15286 14979 18177 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) 3265.00 3311 3234 3207 3892 3363
GDP From Construction (NZD Million) 2911.00 3979 3887 3770 4575 4043
GDP From Manufacturing (NZD Million) 5177.00 5943 5797 5718 6939 6029
GDP From Mining (NZD Million) 499.00 735 741 781 948 771
GDP From Public Administration (NZD Million) 2841.00 2753 2769 2793 3389 2880
GDP From Services (NZD Million) 37700.00 41360 40738 40707 49399 42367
GDP From Transport (NZD Million) 1632.00 2688 2668 2556 3101 2774
GDP From Utilities (NZD Million) 1608.00 1658 1644 1650 2003 1710

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 4.00 6.5 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 1218 1219 1221 1221
Productivity (points) 113.55 126 127 128 128 129
Job Vacancies (points) 102.84 105 108 115 125 150
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) 538.00 520 523 526 530 540
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) 2133.00 2130 2138 2142 2148 2150

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) 1.50 1.4 1.1 0.9 1.2 0.9
Inflation Rate Mom (%) -0.50 0.7 0.1 0.4 0.2 0.2
Consumer Price Index CPI (points) 1047.00 1054 1055 1061 1060 1065
Core Consumer Prices (points) 1048.00 1055 1059 1065 1060 1072
Core Inflation Rate (%) 1.60 1.5 1.3 1.1 1.1 1.3
Producer Prices (points) 1153.00 1158 1162 1166 1169 1173
Export Prices (points) 1297.00 1335 1340 1325 1320 1325
Import Prices (points) 849.00 851 852 852 855 859
Inflation Expectations (%) 1.43 1 1.4 1.3 1.2 1.6
Cpi Housing Utilities (points) 1094.00 1088 1090 1098 1107 1100
CPI Transportation (points) 980.00 1042 1061 1040 992 1070
Food Inflation (%) 4.20 4.1 4 3.8 3.5 3.1

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) 24403.00 25000 25800 26300 26900 28400
Banks Balance Sheet (NZD Million) 622482.00 632000 630000 595000 593000 590000
Deposit Interest Rate (%) 0.20 0.2 0.2 0.2 -0.3 -0.3
Central Bank Balance Sheet (NZD Million) 58986.00 59000 59500 60100 59800 56500

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (NZD Million) -352.67 100 -300 210 250 -300
Current Account (NZD Million) 1828.00 1100 900 500 -700 -2790
Current Account to GDP (%) -3.60 -3 -3 -4 -4 -4
Imports (NZD Million) 4764.13 4800 4950 5090 5150 5300
Exports (NZD Million) 4411.46 4900 5100 5300 5400 5400
External Debt (NZD Million) 295601.00 304500 304800 305000 305100 306000
Terms of Trade (points) 1528.00 157 157 156 154 154
Capital Flows (NZD Million) 4753.00 4100 4900 1200 1000 1802
Foreign Direct Investment (NZD Million) 945.00 470 890 950 1080 1000
Tourist Arrivals 3831.00 6000 8500 11000 55000 155000
Weapons Sales (USD Million) 6.00 3 3 3 3 3

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 19.00 32 32 41 41 41
Government Budget (% of GDP) 2.50 -8 -8 -9 -9 -9
Government Budget Value (NZD Million) 7508.00 -4500 -4500 -5300 -5300 -5300
Government Spending (NZD Million) 12736.00 11853 11823 11947 14498 12296
Government Revenues (NZD Million) 119293.00 101000 101000 110000 110000 110000
Fiscal Expenditure (NZD Million) 111439.00 125500 125500 122000 122000 122000
Military Expenditure (USD Million) 2307.00 2120 2120 2250 2250 2250
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 (%) -28.50 -40.5 -38 -31 -28 -18
Manufacturing PMI (points) 50.70 51.1 51.7 52.3 52.6 53
Industrial Production (%) -12.10 -6 -2.5 1.6 8.3 2.5
Capacity Utilization (%) 92.80 93 93.2 93.5 93.5 93.8
Changes in Inventories (NZD Million) -1129.00 -240 -80 150 230 380
Car Registrations 4294.00 4900 4800 4850 4900 5100
Services Pmi (points) 46.90 48.5 50.5 51 51.5 52.5
Bankruptcies (Individuals) 95.00 98 100 97 95 87
Composite Pmi (points) 48.80 50 50.4 51 51.5 52.5

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) 95.10 98.5 96 98 100 103
Retail Sales MoM (%) -14.60 10 0.6 1 1.3 1.5
Retail Sales YoY (%) -14.20 -5 -1.5 0.3 13.2 2.5
Consumer Spending (NZD Million) 35197.00 38493 37820 38120 46260 39332
Private Sector Credit (NZD Million) 486178.00 488000 491000 492000 493000 496315
Bank Lending Rate (%) 8.38 8.38 8.38 8.38 7.88 7.88
Credit Card Spending (NZD Million) 5756.00 5610 5750 5850 5930 6070
Households Debt To GDP (% of GDP) 94.80 94.8 94.6 94.1 94.1 94.1
Households Debt To Income (%) 163.80 164 164 164 164 163

Housing Actual Q3 Q4 Q1 Q2 2021
Building Permits 3182.00 3400 3300 3200 3300 3400
Housing Index (%) 1.90 1.7 1.5 1 0.7 1
Home Ownership Rate (%) 64.80 64.29 64.29 64.29 64.29 64.29
Construction Output (%) -24.20 -13 -5 0.5 15 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.