Markets Actual Q4 Q1 Q2 Q3 2022
Currency 0.71 0.7 0.7 0.69 0.69 0.67
Stock Market (points) 13012.19 12796 12584 12375 12169 11769
Government Bond 10Y (%) 2.19 2.29 2.4 2.52 2.64 2.9

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 2.80 6 0.5 1.2 7 3
GDP Annual Growth Rate (%) 17.40 4 2 2.3 2 3.5
Unemployment Rate (%) 4.00 4.2 4 3.7 3.6 3.5
Inflation Rate (%) 3.30 3.3 3.5 2.5 3 2.2
Inflation Rate Mom (%) 1.30 0.3 0.5 0.6 0.5 0.2
Interest Rate (%) 0.50 0.5 0.75 1 1.25 1.5
Balance of Trade (NZD Million) -2143.70 -300 343 329 398 340
Current Account (NZD Million) -1396.00 -2790 -1500 -1900 -1900 -2400
Current Account to GDP (% of GDP) -2.70 -2.5 -3 -3 -3 -3
Government Debt to GDP (% of GDP) 30.10 41 41 41 41 47
Government Budget (% of GDP) -1.30 -9 -9 -9 -9 -8.3
Manufacturing PMI (points) 51.38 53 52 55 56 52.5
Consumer Confidence (points) 102.70 105 103 102 108 105
Retail Sales MoM (%) 3.30 1.5 2 2 3 1.7
Building Permits 4378.00 3400 3800 4000 3900 3800
Corporate Tax Rate (%) 28.00 28 28 28 28 28
Personal Income Tax Rate (%) 39.00 33 39 39 39 39

GDP Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 2.80 6 0.5 1.2 7 3
GDP Annual Growth Rate (%) 17.40 4 2 2.3 2 3.5
GDP (USD Billion) 212.48 205 205 205 205 212
GDP Constant Prices (NZD Million) 69724.00 67439 69604 69131 71328 72040
Gross National Product (NZD Million) 74252.00 70664 73248 76451 75960 75812
Gross Fixed Capital Formation (NZD Million) 16766.00 16697 16791 17622 17152 17378
GDP per capita (USD) 37922.24 38000 38000 38000 38000 38800
GDP per capita PPP (USD) 42404.39 41730 41730 41730 41730 42400
GDP From Agriculture (NZD Million) 3477.00 3640 3336 3295 3557 3453
GDP From Construction (NZD Million) 4463.00 4091 4281 4438 4566 4430
GDP From Manufacturing (NZD Million) 6397.00 6518 6436 6417 6544 6661
GDP From Mining (NZD Million) 656.00 789 658 645 671 681
GDP From Public Administration (NZD Million) 3079.00 2950 3166 3144 3150 3277
GDP From Services (NZD Million) 45429.00 45488 44908 44680 46474 46480
GDP From Transport (NZD Million) 2584.00 3192 2152 2039 2643 2227
GDP From Utilities (NZD Million) 1705.00 1821 1822 1736 1744 1886

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 4.00 4.2 4 3.7 3.6 3.5
Employed Persons (Thousand ) 2778.00 2780 2800 2800 2790 2720
Unemployed Persons (Thousand ) 117.00 120 121 119 119 117
Employment Change (%) 1.00 0.6 0.5 0.5 0.3 0.6
Labor Force Participation Rate (%) 70.50 70.8 71 71.2 71.3 70.8
Labour Costs (points) 1244.00 1250 1255 1260 1265 1275
Productivity (points) 132.01 129 129 128 128 131
Job Vacancies (index points) 256.10 145 175 220 250 280
Wages (NZD/Hour) 34.80 35 35.2 35.5 35.6 36
Wages in Manufacturing (NZD/Hour) 32.58 35 35 35 35 36
Minimum Wages (NZD/Hour) 20.00 20 20 20 20 21.3
Population (Million) 5.11 5.2 5.3 5.3 5.3 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) 564.00 540 540 540 560 540
Youth Unemployment Rate (%) 10.92 11 11.4 11 10.5 10
Employment Rate (%) 67.10 67.5 67.9 67.5 67.5 68
Full Time Employment (Thousand) 2216.00 2150 2100 2150 2200 2150

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 3.30 3.3 3.5 2.5 3 2.2
Inflation Rate Mom (%) 1.30 0.3 0.5 0.6 0.5 0.2
Consumer Price Index CPI (points) 1082.00 1094 1105 1109 1114 1118
Core Consumer Prices (points) 1083.00 1091 1081 1085 1099 1098
Core Inflation Rate (%) 2.20 2 1.5 1.5 1.2 1.6
Producer Prices (points) 1222.00 1183 1183 1188 1188 1205
Export Prices (points) 1274.00 1225 1225 1250 1230 1250
Import Prices (points) 835.00 859 859 870 860 863
Inflation Expectations (%) 2.27 1.6 1.6 1.4 1.4 1.9
Cpi Housing Utilities (points) 1137.00 1142 1155 1165 1171 1168
CPI Transportation (points) 1072.00 1075 1081 1087 1093 1095
Food Inflation (%) 4.00 2.3 2 1.8 1.3 1.5

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 0.50 0.5 0.75 1 1.25 1.5
Foreign Exchange Reserves (NZD Million) 22640.00 22400 23000 23000 22000 30800
Banks Balance Sheet (NZD Million) 637042.00 657416 654237 653057 650000 648699
Deposit Interest Rate (%) 0.50 0.5 0.75 1 1.25 1.5
Central Bank Balance Sheet (NZD Million) 88816.00 92500 90000 88000 84000 80500

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (NZD Million) -2143.70 -300 343 329 398 340
Current Account (NZD Million) -1396.00 -2790 -1500 -1900 -1900 -2400
Current Account to GDP (% of GDP) -2.70 -2.5 -3 -3 -3 -3
Imports (NZD Million) 6494.53 5458 5495 5450 5965 5555
Exports (NZD Million) 4350.83 5801 5824 5848 5871 5895
External Debt (NZD Million) 291976.00 300000 304000 304000 304000 305000
Terms of Trade (points) 1526.00 1430 143 143 144 1400
Foreign Direct Investment (NZD Million) 1717.00 1000 1000 1200 1200 800
Tourist Arrivals 2676.00 55000 250000 280000 280000 250000
Weapons Sales (SIPRI TIV Million) 6.00 3 3 3 3 2

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 30.10 41 41 41 41 47
Government Budget (% of GDP) -1.30 -9 -9 -9 -9 -8.3
Government Budget Value (NZD Million) -4560.00 -25000 -25000 -5300 -5300 -4100
Government Spending (NZD Million) 13811.00 12379 13779 13912 14129 14261
Government Revenues (NZD Million) 129335.00 110000 110000 110000 110000 119000
Fiscal Expenditure (NZD Million) 133722.00 122000 115000 115000 115000 115000
Government Debt (NZD Million) 102080.00 75000 70000 70000 70000 70000

Taxes Actual Q4 Q1 Q2 Q3 2022
Corporate Tax Rate (%) 28.00 28 28 28 28 28
Personal Income Tax Rate (%) 39.00 33 39 39 39 39
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 2022
Manufacturing PMI (points) 51.38 53 52 55 56 52.5
Industrial Production (%) 16.10 5.5 5.5 3.5 3.5 2.5
Capacity Utilization (%) 96.10 92.8 93.2 93.5 93.7 93.6
Car Registrations 2519.00 4100 4900 5200 5400 5400
Services PMI (points) 35.60 48 53 53 52 53
Bankruptcies (Individuals) 42.00 60 80 90 100 80
Composite PMI (points) 38.00 57 56 55 58 58

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Confidence (points) 102.70 105 103 102 108 105
Retail Sales MoM (%) 3.30 1.5 2 2 3 1.7
Retail Sales YoY (%) 33.30 2.5 3 2 3 2.5
Consumer Spending (NZD Million) 43552.00 42242 43313 44717 44554 44829
Private Sector Credit (NZD Million) 514665.00 508733 512010 512010 512010 521839
Bank Lending Rate (%) 8.41 8.41 8.66 8.91 9.16 9.41
Credit Card Spending (NZD Million) 5149.00 6062 6413 6465 6300 6568
Households Debt To GDP (% of GDP) 99.40 98.1 98.3 98.3 98.3 98.3
Households Debt To Income (%) 165.60 167 167 167 167 167

Housing Actual Q4 Q1 Q2 Q3 2022
Building Permits 4378.00 3400 3800 4000 3900 3800
Housing Index (NZD) 795000.00 790000 790000 780000 780000 800000
Home Ownership Rate (%) 64.60 64.5 64.5 64.5 64.5 64.5
Construction Output (%) 49.70 6 5 5 20 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.