GDP in New Zealand
New Zealand - GDP (billions of U.S. Dollars)
Growth stable in Q1
The economy expanded 0.6% in quarter-on-quarter seasonally-adjusted terms in the first quarter, unchanged from Q4 2018’s result. Likewise, on a year-on-year basis, first quarter growth matched the previous quarter’s 2.3% expansion, which had marked the lowest print in five years.
The first-quarter expansion was chiefly led by goods-producing industries, which accelerated on the back of the sharpest increase in construction activity in a year and a half, and a rebound in manufacturing output (Q1: +1.4% quarter-on-quarter seasonally-adjusted; Q4 2018: +0.4% qoq s.a.). In contrast, the services sector posted its lowest quarterly growth since September 2012 (Q1: +0.2% qoq s.a.; Q4 2018: +0.9% qoq s.a.), dragged by lower activity in the rental, hiring and real estate services, as well as in the retail trade and accommodation sectors. Lastly, primary industries shrank 0.7% in Q1 (Q4 2018: -0.3% qoq s.a.), as adverse weather conditions weighed on the agricultural sector.
On the expenditure side, both fixed investment and government expenditure gathered momentum in the first quarter, while private consumption lost stride. On the external front, exports recorded the fastest quarter-on-quarter increase in more than four years in Q1, while imports rebounded mildly.
FocusEconomics Consensus Forecast panelists expect the economy to grow 2.5% in 2019, which is unchanged from last month’s forecast, and also 2.5% in 2020.
New Zealand - GDP (USD bn) Data
|GDP (USD bn)||-||-||-||-||-|
5 years of economic forecasts for more than 30 economic indicators.
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-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 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 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.