New Zealand Economy

On Thursday, Statistics New Zealand released the national accounts for Q3 2024, which reported a 1.0% decline in GDP over the quarter to be 1.5% lower annually.

Last week’s Q2 official population data from the Australian Bureau of Statistics (ABS) showed that Australia’s net overseas migration has slowed materially, down to 445,700 in Q2 2024 from 555,800 in Q2 2023.

New Zealand has experienced the most significant decline in per capita GDP in the English-speaking world over the past year.

The latest labour force data for New Zealand showed that filled jobs fell by 0.7% in Q3, the second consecutive quarterly decline.

The Reserve Bank of New Zealand has cut the official cash rate by 1.25% over the last three monetary policy meetings.

The Reserve Bank of New Zealand has already cut the official cash rate by 1.25% to 4.25%.

The Reserve Bank of New Zealand’s aggressive monetary policy, which raised the official cash rate to a peak of 5.50%, has successfully deflated the nation’s house price bubble.

Independent economist Tony Alexander has written a detailed report on the New Zealand economy, which is experiencing a historic recession.

The Reserve Bank of New Zealand is expected to cut the official cash rate by 0.5% this week to 4.25%.

The Reserve Bank of New Zealand is expected to cut the official cash rate by 50 basis points this week, following 75 basis point reductions over the past two monetary policy meetings.

The latest consumer price index (CPI) data for New Zealand showed that headline inflation had fallen to only 2.2% in the year ended Q3 2024, tracking within the Reserve Bank’s inflation target of 1% to 3%.

The Reserve Bank of New Zealand’s aggressive monetary policy, which raised the official cash rate to a high of 5.50%, continues to deflate the nation’s housing bubble.

When central banks tighten interest rates, there is always the risk that they may keep them too high for too long, throwing the economy into recession.

The Reserve Bank of New Zealand’s aggressive monetary policy, which lifted the official cash rate to a peak of 5.50%, successfully unwound the nation’s pandemic house price gains.

When central banks tighten interest rates, there is always the risk that they keep rates too high for too long, driving the economy into a tailspin.

The Reserve Bank of New Zealand was one of the most aggressive central banks in the world, lifting the official cash rate to a peak of 5.50%.

Between December 2013 and March 2023, New Zealand’s unemployment rate was on average 0.3 percentage points below Australia’s.

The Reserve Bank of New Zealand’s ultra-aggressive monetary tightening successfully disarmed the nation’s housing bubble, fully unwinding the explosive value gains recorded over the pandemic.

The Reserve Bank of New Zealand has cut the official cash rate by 0.75% over the past two monetary policy meetings.

New Zealanders are experiencing one of the deepest recessions in modern times.

Net overseas migration continues to retrace in New Zealand as recession-hit Kiwis escape to Australia.