Current Account in New Zealand
New Zealand - Current AccountThe economy continued to expand at a moderate pace in the first quarter, as a jump in construction activity and stronger growth in manufacturing offset a cooling services sector. Available indicators suggest soft momentum carried over into Q2. A solid increase in electronic card transactions and slightly more upbeat consumer confidence in Q2, on average, point to healthy consumer spending. Moreover, robust export growth in the first two months of the quarter suggests the external sector remained in good shape. On the flip side, business confidence remained deeply entrenched in pessimistic territory in the quarter, which bodes poorly for investment activity. In politics, Prime Minister Jacinda Ardern reshuffled her cabinet at the end of June and substituted the housing minister with a team of senior officials. The new team will turn its attention to making housing more affordable, one of Ardern’s main electoral promises.
New Zealand - Current Account Data
|Current Account (% of GDP)||-||-||-||-||-|
5 years of economic forecasts for more than 30 economic indicators.
New Zealand Current Account Chart
Source: Statistics New Zealand and FocusEconomics calculations.
New Zealand Facts
|Bond Yield||1.56||1.20 %||Jul 11|
|Exchange Rate||0.67||-1.69 %||Jul 11|
|Stock Market||4,659||0.11 %||Jul 11|
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July 16, 2019
Consumer prices increased 0.6% in Q2 2019 over the previous quarter, up notably from Q1 0.1% uptick, according to Statistics New Zealand.
June 28, 2019
The ANZ bank business outlook indicator fell by 6.1 points in June, with a net 38.1% firms reporting that they expect general business conditions to deteriorate this year.
June 28, 2019
The ANZ-Roy Morgan consumer confidence indicator rose to 122.6 in June (May: 119.3), moving further above the 100-point threshold that separates optimism from pessimism among consumers. Consumers were more optimistic about their current financial situation, and they also grew more confident about their future financial conditions.
June 26, 2019
On 26 June, the Reserve Bank of New Zealand (RBNZ) left the official cash rate (OCR) unchanged at an all-time low of 1.50%.
June 20, 2019
The economy expanded 0.6% in quarter-on-quarter seasonally-adjusted terms in the first quarter, unchanged from Q4 2018’s result.