Markets Actual Q2 Q3 Q4 Q1 2022
Currency 0.72 0.72 0.71 0.71 0.7 0.7
Stock Market (points) 12707.30 12538 12348 12162 11979 11612
Government Bond 10Y (%) 1.75 1.81 1.87 1.93 2 2.13

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) -1.00 2 0.2 0.3 0.5 1
GDP Annual Growth Rate (%) -0.90 16.5 2 4 2 4
Unemployment Rate (%) 4.70 5.2 5.1 5 5 4.7
Inflation Rate (%) 1.50 2.4 2.3 1.9 1.6 1.2
Inflation Rate Mom (%) 0.80 0.6 0.6 0.1 0.5 0.2
Interest Rate (%) 0.25 0.25 0.25 0.25 0.25 0.5
Balance of Trade (NZD Million) 32.66 210 700 -300 100 300
Current Account (NZD Million) -2695.00 -700 -3250 -2790 -1500 -2400
Current Account to GDP (%) -2.70 -2.5 -2.5 -2.5 -3 -3
Government Debt to GDP (%) 27.00 41 41 41 41 47
Government Budget (% of GDP) -7.50 -9 -9 -9 -9 -8.3
Business Confidence (%) 7.00 10 12 6.3 20 7
Manufacturing PMI (points) 63.60 53.3 53 53 52 52.5
Consumer Confidence (points) 105.20 112 102 103 100 105
Retail Sales MoM (%) -2.70 1.3 1.5 1.5 2 1.7
Building Permits 4218.00 3300 3350 3400 2800 3800
Corporate Tax Rate (%) 28.00 28 28 28 28 28
Personal Income Tax Rate (%) 39.00 33 39 33 39 39

GDP Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) -1.00 2 0.2 0.3 0.5 1
GDP Annual Growth Rate (%) -0.90 16.5 2 4 2 4
GDP (USD Billion) 206.93 205 205 205 205 212
GDP Constant Prices (NZD Million) 66927.00 67385 69005 67439 69604 72388
Gross National Product (NZD Million) 70431.00 70971 70463 70664 73248 76178
Gross Fixed Capital Formation (NZD Million) 16145.00 16559 14959 16697 16791 17462
GDP per capita (USD) 38993.00 38000 38000 38000 38000 38800
GDP per capita PPP (USD) 42887.52 41730 41630 41730 41730 42400
GDP From Agriculture (NZD Million) 3208.00 3242 3617 3640 3336 3470
GDP From Construction (NZD Million) 4116.00 4205 3497 4091 4281 4452
GDP From Manufacturing (NZD Million) 6188.00 6183 6205 6518 6436 6693
GDP From Mining (NZD Million) 633.00 838 624 789 658 685
GDP From Public Administration (NZD Million) 3044.00 3016 3451 2950 3166 3292
GDP From Services (NZD Million) 43181.00 44272 45182 45488 44908 46705
GDP From Transport (NZD Million) 2069.00 2698 1862 3192 2152 2238
GDP From Utilities (NZD Million) 1752.00 1791 1891 1821 1822 1895

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 4.70 5.2 5.1 5 5 4.7
Employed Persons (Thousand ) 2750.00 2760 2760 2720 2710 2720
Unemployed Persons (Thousand ) 135.00 118 119 120 121 117
Employment Change (%) 0.60 0.7 0.6 0.6 0.5 0.6
Labor Force Participation Rate (%) 70.40 70.3 70.4 70.8 71 70.8
Labour Costs (points) 1235.00 1240 1245 1250 1255 1275
Productivity (points) 128.75 128 129 129 129 131
Job Vacancies (index points) 161.28 170 172 175 175 180
Wages (NZD/Hour) 34.20 34.35 34.7 35 35 36.72
Wages in Manufacturing (NZD/Hour) 32.19 33.3 34.5 35 35 36
Minimum Wages (NZD/Hour) 20.00 20 20 20 20 21.3
Population (Million) 5.11 5.2 5.2 5.2 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) 534.00 530 535 540 540 540
Youth Unemployment Rate (%) 13.67 12.1 13 12.6 12.4 12
Employment Rate (%) 67.10 66.5 66.6 66.7 66.8 66.7
Full Time Employment (Thousand) 2197.00 2180 2190 2150 2100 2150

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 1.50 2.4 2.3 1.9 1.6 1.2
Inflation Rate Mom (%) 0.80 0.6 0.6 0.1 0.5 0.2
Consumer Price Index CPI (points) 1068.00 1072 1078 1079 1076 1092
Core Consumer Prices (points) 1069.00 1066 1060 1091 1074 1091
Core Inflation Rate (%) 1.50 1.1 1.2 1.3 1 1.6
Producer Prices (points) 1161.00 1169 1170 1173 1173 1180
Export Prices (points) 1185.00 1320 1323 1325 1325 1320
Import Prices (points) 804.00 855 857 859 859 863
Inflation Expectations (%) 2.05 2.3 1.4 1.6 1.6 1.9
Cpi Housing Utilities (points) 1116.00 1120 1126 1127 1124 1141
CPI Transportation (points) 1049.00 1004 1010 1029 1026 1042
Food Inflation (%) 0.50 0.8 1.8 3.1 2 2.5

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 0.25 0.25 0.25 0.25 0.25 0.5
Foreign Exchange Reserves (NZD Million) 18154.00 18900 19500 22400 23000 30800
Banks Balance Sheet (NZD Million) 627962.00 593000 590000 590000 590000 583000
Deposit Interest Rate (%) 0.30 0.26 0.26 4.45 0.26 0.51
Central Bank Balance Sheet (NZD Million) 82972.00 76800 74100 70500 66000 63500

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (NZD Million) 32.66 210 700 -300 100 300
Current Account (NZD Million) -2695.00 -700 -3250 -2790 -1500 -2400
Current Account to GDP (%) -2.70 -2.5 -2.5 -2.5 -3 -3
Imports (NZD Million) 5647.69 4500 5410 5300 5200 5300
Exports (NZD Million) 5680.35 5200 4400 5400 5400 5600
External Debt (NZD Million) 289422.00 305100 305600 306000 306000 305000
Terms of Trade (points) 1474.00 1448 1448 1430 1430 1400
Capital Flows (NZD Million) 6517.00 1000 1300 1300 1300 1802
Foreign Direct Investment (NZD Million) 3158.00 1080 1190 1000 1000 800
Tourist Arrivals 5300.00 10000 30000 55000 250000 250000
Weapons Sales (USD Million) 6.00 3 3 3 3 2

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (%) 27.00 41 41 41 41 47
Government Budget (% of GDP) -7.50 -9 -9 -9 -9 -8.3
Government Budget Value (NZD Million) -23057.00 -5300 -5300 -5300 -5300 -4100
Government Spending (NZD Million) 13249.00 13208 15142 12379 13779 14330
Government Revenues (NZD Million) 116003.00 110000 110000 110000 110000 119000
Fiscal Expenditure (NZD Million) 138916.00 122000 122000 122000 115000 115000
Military Expenditure (USD Million) 3014.00 2250 2250 2250 2250 2380
Government Debt (NZD Million) 83375.00 75000 75000 75000 70000 70000

Taxes Actual Q2 Q3 Q4 Q1 2022
Corporate Tax Rate (%) 28.00 28 28 28 28 28
Personal Income Tax Rate (%) 39.00 33 39 33 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 Q2 Q3 Q4 Q1 2022
Business Confidence (%) 7.00 10 12 6.3 20 7
Manufacturing PMI (points) 63.60 53.3 53 53 52 52.5
Industrial Production (%) 2.00 8.3 5.5 5.5 5.5 2.5
Capacity Utilization (%) 93.30 93.5 93.8 93.8 93.8 93.6
Changes in Inventories (NZD Million) -185.00 230 310 310 310 410
Car Registrations 5914.00 5100 5050 5100 4900 5400
Services PMI (points) 52.40 53 55 53 52 53
Bankruptcies (Individuals) 37.00 95 91 87 55 83
Composite PMI (points) 58.00 51.5 52 52.5 52 53.3

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) 105.20 112 102 103 100 105
Retail Sales MoM (%) -2.70 1.3 1.5 1.5 2 1.7
Retail Sales YoY (%) 4.80 13.2 4.5 2.5 3 2.5
Consumer Spending (NZD Million) 41647.00 42182 41941 42242 43313 45045
Private Sector Credit (NZD Million) 501588.00 502180 505457 508733 512010 521839
Bank Lending Rate (%) 8.30 8.37 8.37 10.67 8.37 8.62
Credit Card Spending (NZD Million) 5884.00 5936 5987 6039 6090 6245
Households Debt To GDP (% of GDP) 95.00 94.1 94.1 94.1 94.1 94.1
Households Debt To Income (%) 165.60 164 164 163 163 162

Housing Actual Q2 Q3 Q4 Q1 2022
Building Permits 4218.00 3300 3350 3400 2800 3800
Housing Index (%) 5.20 2.7 1.8 1 1.5 1
Home Ownership Rate (%) 64.60 64.5 64.5 64.5 64.5 64.5
Construction Output (%) 2.70 15 7 6 5 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.