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New Zealand Q1 Current Account Deficit NZ$8.5 Billion
(RTTNews) - New Zealand posted a seasonally adjusted current account deficit of NZ$8.5 billion in the first quarter of 2022, Statistics New Zealand said on Wednesday - following the NZ$6.6 billion shortfall in the three months prior.
The current account deficit for the year ended March 2022 widened to NZ$23.3 billion (6.5 percent of gross domestic product [GDP]) from the NZ$8.2 billion deficit for the March 2021 year (2.5 percent of GDP).
The seasonally adjusted goods deficit widened to NZ$2.9 billion, while the seasonally adjusted services deficit widened to NZ$3.0 billion. The primary income deficit widened to NZ$2.3 billion and the financial account recorded a net inflow of NZ$4.5 billion.
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New Zealand Services Sector Falls Into Contraction
The services sector in New Zealand slipped into contraction territory in February, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 49.1.
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New Zealand Manufacturing PMI Climbs To 53.9 In February - BusinessNZ
The manufacturing sector in New Zealand continued to expand in February, and at a faster rate, the latest survey from BusinessNZ revealed on Friday with a Performance of Manufacturing Index score of 53.9.
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New Zealand Q4 Retail Sales Volume Climbs 0.9%
The total volume of overall retail sales in New Zealand was up a seasonally adjusted 0.9 percent on quarter in the fourth quarter of 2024, Statistics New Zealand said on Monday.
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New Zealand Central Bank Cuts Rate; Signals Steeper Easing
The Reserve Bank of New Zealand cut its interest rate further by 50 basis points on Thursday and signalled more reductions this year to support economic growth. The Monetary Policy Committee of the Reserve Bank of New Zealand, led by Governor Adrian Orr, decided to lower the Official Cash Rate to 3.75 percent from 4.25 percent. The bank has lowered the rate by 175 basis points since August.
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New Zealand Services Index Expands In January - BusinessNZ
The services sector in New Zealand climbed up into expansion territory in January, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 50.4.
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New Zealand Manufacturing Sector Climbs Into Expansion - BusinessNZ
The manufacturing sector in New Zealand moved up into expansion territory in January, the latest survey from BusinessNZ revealed on Friday with a manufacturing PMI core of 51.4.
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New Zealand Jobless Rate Climbs To 5.1% In Q4
The unemployment rate in New Zealand came in at a seasonally adjusted 5.1 percent in the fourth quarter of 2024, Statistics New Zealand said on Wednesday - in line with expectations and up from 4.8 percent in the previous three months.
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New Zealand Building Consents Sink 5.6% In December
The total number of building permits issued in New Zealand in December was down a seasonally adjusted 5.6 percent on month in December, Statistics New Zealand said on Tuesday - coming in at 2,478.
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