Current Account in New Zealand
New Zealand - Current AccountAvailable data indicates the economy went through a softer patch in Q3 compared to Q2, which saw GDP expand at the strongest quarterly pace in two years on the back of higher public and private expenditure. Growth of retail sales was essentially flat in Q3 as higher fuel prices weighed on household budgets, hinting that consumer spending lost stride in the quarter. Furthermore, although overall construction volume reached a new high in Q3, the pace at which it rose moderated from Q2 due to stagnant building activity in the non-residential sector, likely dragging on overall investment gains. Meanwhile, electronic card spending declined on a monthly basis, on average, in October–November which, coupled with lower consumer confidence in the same two-month period, are early signs that relatively soft dynamics persist in Q4. This is further supported by weak external sector metrics, in which the third largest ever monthly goods trade deficit was recorded in October, exceeded only by the previous two months.
New Zealand - Current Account Data
|Current Account (% of GDP)||-3.2||-3.2||-3.1||-2.2||-2.7|
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||2.30||1.20 %||Jan 16|
|Exchange Rate||0.68||-1.69 %||Jan 16|
|Stock Market||4,003||0.11 %||Jan 16|
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December 21, 2018
The ANZ-Roy Morgan consumer confidence indicator rose to 121.9 in December from 118.6 in November, marking a second consecutive monthly increase after trending down for five-months.
December 19, 2018
According to data released by the Statistical Institute, quarter-on-quarter seasonally-adjusted national accounts for the third quarter were the weakest since late 2013.
December 18, 2018
The ANZ Bank Business Outlook indicator reported significant improvements in business confidence in December, with a net 24.1% of surveyed firms reporting pessimism over general business conditions in the year ahead (November: 37.1%).
November 30, 2018
The ANZ-Roy Morgan consumer confidence indicator climbed to 118.6 in November from 115.4 in October, which had marked the lowest reading in three years.
November 29, 2018
The ANZ Bank Business Outlook indicator showed that a net 37.1% of surveyed firms were pessimistic over general business conditions in the year ahead in November, unchanged from October.