New Zealand Economic Outlook
April 16, 2019Economic growth accelerated in quarterly terms in Q4 2018, amid stronger domestic activity. The service industries recorded the sharpest growth in the quarter, underpinned by sturdy activity in the retail and accommodation sectors. In addition, the goods-producing sector rebounded, powered by robust construction activity. Manufacturing output, on the other hand, fell again in Q4. Meanwhile, the external sector improved; exports rebounded, while imports contracted for the second consecutive quarter. More recently, upbeat electronic card transactions in Q1 2019 point to faster household consumption at the outset of the year. In politics, Prime Minister Jacinda Ardern visited Beijing on 31 March in an effort to mend diplomatic relations with New Zealand’s largest trading partner. Cooling relations with China dented tourist arrivals in Q1 and could hit export growth in the near-term.
New Zealand Economic GrowthGrowth will likely moderate a tad this year, dragged by slower domestic demand as fixed investments likely ease on weak business expectations. That said, upbeat public infrastructure projects are seen supporting activity. Moreover, exports are projected to trend upward, although a volatile international backdrop clouds the outlook. Met the why particular panelists expect the economy to expand 2.6% in 2019, which is down 0.1 percentage points from last month’s forecast, and 2.5% in 2020.
New Zealand Economy Data
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New Zealand Facts
|Bond Yield||1.83||1.20 %||May 13|
|Exchange Rate||0.66||-1.69 %||May 13|
|Stock Market||4,438||0.11 %||May 13|
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New Zealand Economic News
May 8, 2019
On 8 May, the Reserve Bank of New Zealand (RBNZ) lowered the official cash rate (OCR) by 25 basis points to an all-time low of 1.50%.
May 1, 2019
The seasonally-adjusted unemployment rate edged down to 4.2%, from Q3’s 4.3%, as had been expected by market analysts.
April 26, 2019
The ANZ-Roy Morgan consumer confidence indicator rose to 123.2 in April, from March’s 121.8.
April 17, 2019
Consumer prices rose 0.1% in Q1 2019 over the previous quarter, matching Q4 2018’s uptick, according to Statistics New Zealand.
March 29, 2019
The ANZ-Roy Morgan consumer confidence indicator ticked up to 121.8 in March, from February’s 120.8.