Current Account in New Zealand
New Zealand - Current Account (billions of U.S. Dollars)Growth should have remained broadly steady in the third quarter and at the outset of the fourth quarter, after a downturn in construction activity weighed on the economy in the second quarter. A rising unemployment rate and falling consumer confidence point to some slowdown in consumer spending in the third quarter; however, improving confidence in October suggests it regained some strength at the beginning of Q4. Moreover, despite monetary easing, worsening business confidence and conditions and weaker exports likely dragged on investment activity in Q3. Meanwhile, on the political front, the government announced in early November it had reached a deal with China to upgrade its free trade agreement. By reducing compliance costs and making export activity easier, the upgrade is set to support the external sector going forward.
New Zealand - Current Account (USD bn) Data
|Current Account Balance (USD bn)||-5.9||-6.3||-5.2||-4.0||-5.8|
5 years of economic forecasts for more than 30 economic indicators.
New Zealand Current Account (USD bn) Chart
Source: Statistics New Zealand and FocusEconomics calculations.
New Zealand Facts
|Bond Yield||1.06||1.20 %||Sep 04|
|Exchange Rate||0.64||-1.69 %||Sep 04|
|Stock Market||4,778||0.11 %||Sep 04|
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November 13, 2019
On 13 November, the Reserve Bank of New Zealand (RBNZ) kept the official cash rate (OCR) unchanged, after having unexpectedly cut the rate by 50 basis points in August.
November 6, 2019
The seasonally-adjusted unemployment rate rose to 4.2% in Q3 from an 11-year low of 3.9% the previous quarter.
November 4, 2019
The ANZ-Roy Morgan consumer confidence indicator jumped to 118.4 in October (September: 113.9), moving further away from the 100-threshold that separates optimism from pessimism among consumers and printing the best result in four months. Consumers had better assessments about their current financial situation compared to one year ago, and they also grew more optimistic about their future personal finances.
New Zealand: Business confidence improves but remains deeply entrenched in pessimistic territory in October
October 31, 2019
The ANZ bank business outlook indicator jumped 11.1 points in October, but nevertheless a net 42.4% of firms still report that they expect general business conditions to deteriorate in the year ahead.
October 16, 2019
Consumer prices increased 0.7% in Q3 2019 over the previous quarter, up slightly from Q2’s 0.6% rise, according to Statistics New Zealand.