Open a free practice account and experience the Forex market risk-free with exclusive access to VT Trader™ 2.0.
Simulated conditions may differ from real conditions, and traders should not necessarily expect the same results from live trading.
|
Actual | Forecast | Previous | Revised Form | |
| 0.2% | 0.4% | 0.2% | 0.1% |
| 9/27 | 12/20 | 3/27 | 6/26 | 9/25 | 12/22 | 3/26 | 6/25 | 9/22 | 12/22 | ||
| Actual | 0.7% | 0.5% | 1.0% | -0.3% | -0.2% | -0.4% | -0.9% | -1.0% | 0.1% | 0.2% | |
| Forecast | 0.5% | 0.4% | 0.8% | -0.3% | -0.4% | -0.5% | -1.1% | -0.7% | -0.2% | 0.4% | |
| Previous | 1.0% | 0.8% | 0.5% | 0.8% | -0.3% | -0.2% | -0.5% | -1.0% | -0.8% | 0.2% | |
| Revised From | N/A | 0.7% | N/A | 1.0% | N/A | N/A | -0.4% | -0.9% | -1.0% | 0.1% | |
|
Actual | Forecast | Previous | Revised Form | |
| 0.1% | -0.2% | -0.8% | -1.0% | ||
|
For 2nd Quarter
GDP y/y: -2.1%, pr. -2.7% (1Q), -1.9% (4Q), -0.1% (3Q),
From the Release: "Economic activity, as measured by Gross Domestic Product (GDP), was up less than 0.1 percent in the June 2009 quarter, Statistics New Zealand said today. This growth in economic activity follows five quarters of contraction in the New Zealand economy. Activity in the primary industries was up 1.5 percent in the June 2009 quarter, mainly driven by forestry and logging (up 8.0 percent). The increase in forestry and logging production was related to an increase in exports of logs to the People's Republic of China. Activity in the goods-producing industries contracted 0.5 percent in the June 2009 quarter. The manufacturing (down 1.3 percent) and construction (down 1.9 percent) industries both declined. A 5.9 percent increase in electricity, gas and water partly offset these declines.Activity in the services industries was flat this quarter. Service industries that increased were real estate and business services (up 1.5 percent) and communications (up 1.7 percent). Offsetting these increases were declines in wholesale trade (down 2.1 percent), transport and storage (down 3.3 percent), and government administration and defence (down 0.4 percent)."
|
|||||
|
Actual | Forecast | Previous | Revised Form | |
| -1.0% | -0.7% | -1.0% | -0.9% | ||
|
For 1st Quarter
GDP y/y: -2.7%, forecast -2.3%, pr. -1.9% (4Q), -0.1% (3Q),
The 1st quarter saw growth contract 1%, the 5th quarter in a row that the New Zealand economy shrank. The figure was worse than expectations, and follows a similar 1% slide in the 4th quarter. Manufacturing activity was down 7.2%, household consumption decline 1.4%, and business investment fell 7.3%. The Kiwi was weaker against the Yen and Dollar in the wake of the release, though it pared its losses against the greenback as the US Dollar was weaker overnight. |
|||||
|
Actual | Forecast | Previous | Revised Form | |
| -0.9% | -1.1% | -0.5% | -0.4% | ||
|
For 4th Quarter
GDP y/y: -1.9%, forecast -2.0%, pr. -0.1% (3Q), 1.0% (2Q), 2.2% (1Q),
From the Release: "The economy contracted 0.9 percent in the December 2008 quarter, Statistics New Zealand said today. This is the fourth consecutive decline in economic activity, as measured by Gross Domestic Product (GDP). The main drivers of the decline in economic activity in the latest quarter were the manufacturing and wholesale trade industries. Manufacturing activity declined 3.8 percent in the December 2008 quarter, with nearly all the manufacturing sub-industries recording decreases. The only manufacturing sub-industry to increase this quarter was food and beverage manufacturing. Value added in the wholesale trade industry declined 4.9 percent, the fourth consecutive quarterly decrease. Partly offsetting the declines within GDP was finance, insurance and business services, which was up 2.2 percent in the December 2008 quarter.On an annual basis, GDP was up 0.2 percent for the December 2008 year. Annual GDP was higher than for the December 2007 year, despite the four quarters of declining activity. This occurred because the economy grew at a faster rate in 2007 than it contracted in 2008." |
|||||
|
Actual | Forecast | Previous | Revised Form | |
| -0.4% | -0.5% | -0.2% | N/A | ||
|
For 3rd Quarter
GDP y/y: -0.1%, forecast -0.1%, pr. 1.0% (2Q), 2.2% (1Q),
The New Zealand economy contracted for a third straight quarter, extending the nation's recession and increasing the likelihood that the central bank will cut rates from its current 5.0%. GDP for the quarter declined 0.4% from the previous quarter following a 0.2% decline in the 2nd quarter. Several factors contributed to the decline in growth. Household spending, which makes up about 60% of the economy, fell 0.2%, the third consecutive decrease. The cutback in spending was driven by the highest unemployment in five years and a slumping housing market. Exports were down 3.1%, and gross fixed capital formation decreased 8.6%, a sign companies cut back on capital spending. The data suggests the the Reserve Bank of New Zealand will take rates even lower. On December 4th the central bank cut rates by 150 basis points following a 100 basis point reduction in late October. With the global economy deteriorating further in the 4th quarter, a rebound in the 4th quarter seems unlikely. |
|||||
|
Actual | Forecast | Previous | Revised Form | |
| -0.2% | -0.4% | -0.3% | N/A | ||
|
For 2nd Quarter
|
|||||
|
Actual | Forecast | Previous | Revised Form | |
| -0.3% | -0.3% | 0.8% | 1.0% | ||
|
For 1st Quarter
First quarter GDP contracted with a drag from agriculture and constructions sectors. Consumption and demand faltered mainly for durable goods such as motor vehicles, furnitures, and major appliances. Non-durable goods expenditure was flat. The poor figures on economic growth serve as a reminder to the RBNZ that there is no more room to hike rates even though inflation is elevated. Highlights from the release: "Activity in primary industries decreased 4.1 percent, and goods producing industries declined 1.9 percent in the March 2008 quarter. Gross fixed capital formation was down 2.0 percent in the March 2008 quarter. Household consumption expenditure dropped 0.4 percent, following an increase of 0.5 percent last quarter. Real gross national disposable income increased 5.3 percent in the year ended March 2008." |
|||||
|
Actual | Forecast | Previous | Revised Form | |
| 1.0% | 0.8% | 0.5% | N/A | ||
|
For 4th Quarter.
GDP y/y: 3.7%, forecast 3.4%, pr. 3.3% (3rd Q)
|
|||||
|
Actual | Forecast | Previous | Revised Form | |
| 0.5% | 0.4% | 0.8% | 0.7% | ||
|
For 3rd Quarter. Official Release from Statistics New Zealand Sept '07 GDP y/y: 2.7% Services continue to push the economy, as goods-producing industries and manufacturing were both down. Domestic spending grew only slightly after previous three quarters of strong growth. Growth in household spending grew slower than in the previous month as well. Finally, Increased exports of petroleum products in the September 2007 quarter were offset by reduced exports of dairy products. |
|||||
|
Actual | Forecast | Previous | Revised Form | |
| 0.7% | 0.5% | 1.0% | N/A | ||
|
For 2nd Quarter. GDP y/y: 3.2%, forecast 2.6%, prev. 2.5% Annual growth for the June quarter is revised to 2.2%, according to StatNZ. The real disposable income component of GDP increased 3.2% annually in the June quarter. This softening was shown by a reduction in volumes of imports of consumption goods, and a flat retail trade activity combined with build-up of stockpiles. Goods-producing industries, and construction were down 0.1% and 0.8% respectively. Manufacturing was up 0.5%. Household spending also softened. Household consumption eased from 2.2% in the March 2007 quarter to 0.7% in the June quarter. Spending was proportionally carried by non-durable goods as opposed to durables, as purchases of new vehicles declined. Investments fixed assest fell 2.9% in Q2. Government spending grew by 1.2% in the quarter. Exports volume fell 1.3% while import volumes rose 2.5%. |
|||||