New Zealand Jobless Rate Rises To 4.6% In Q2
(RTTNews) - The unemployment rate in New Zealand came in at a seasonally adjusted 4.6 percent in the second quarter of 2024, Statistics New Zealand said on Wednesday.
That beat forecasts for an increase of 4.7 percent and was up from 4,3 percent in the previous three months.
Employment was up 0.4 percent versus expectations for a decline of 0.2 percent, which would have been unchanged from the three months prior.
The participation rate was 71.7 percent - beating forecasts for 71.3 percent and up from 71.5 percent in Q1.
The labor cost index was up 0.9 percent on quarter and 3.6 percent on year.
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New Zealand Inflation Slows To 2.2% Annually
Consumer prices in New Zealand were up 2.2 percent on year in the third quarter of 2024, Statistics New Zealand said on Wednesday in line with expectations and down from 3.3 percent in the previous three months.
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New Zealand Services Sector Unchanged In September - BusinessNZ
The services sector in New Zealand continued to contract in September, and at a steady pace, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 45.7.
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New Zealand Manufacturing PMI Improves To 46.9 In September - BusinessNZ
The manufacturing sector in New Zealand continued to contract in September, albeit at a slower pace, the latest survey from BusinessNZ revealed on Friday with a manufacturing PMI score of 46.0.
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New Zealand Central Bank Cuts Key Rate By 50 Bps
The Reserve Bank of New Zealand slashed its benchmark rate by 50 basis points on Wednesday, as inflation is converging to the target midpoint, while economic growth is expected to remain subdued in the near term. The Monetary Policy Committee led by Governor Adrian Orr, decided to reduce the Official Cash Rate to 4.75 percent from 5.25 percent. The outcome of the meeting matched expectations.
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New Zealand Building Permits Sink 5.3% In August
The total number of building permits issued in New Zealand was down a seasonally adjusted 5.3 percent on month in August, Statistics New Zealand said on Tuesday - coming in at 2,881 consents.
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New Zealand August Trade Shortfall NZ$2.203 Billion
New Zealand posted a merchandise trade deficit of NZ$2.203 billion in August, Statistics New Zealand said on Monday.
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New Zealand GDP Slips 0.2% In Q2
New Zealand's gross domestic product contracted a seasonally adjusted 0.2 percent on quarter in the second quarter of 2024, Statistics New Zealand said on Thursday.
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New Zealand Has NZ$$7.2 Billion Current Account Deficit
New Zealand posted a seasonally adjusted current account deficit of NZ$7.2 billion in the second quarter of 2024, Statistics New Zealand said on Wednesday.
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