Economic News: April 2012

New Zealand trades goods with Asia, services with Australia

New Zealand trades goods with Asia, services with Australia explores how New Zealand’s trading relationships have evolved over time. Asia has become an increasingly important market for the trade in goods, while Australia and North America have continued to dominate commercial services trade.

See Overseas Merchandise Trade statistics for more information about trade in goods or the Census of International Trade in Services and Royalties for commercial services trade data. For information on New Zealand’s current account, see the Balance of Payments and International Investment Position.

The New Zealand labour market during the recession

The New Zealand labour market during the recession describes how the New Zealand labour market was affected by the recession of 2008. During the recession, employment fell, unemployment rose, more people stayed in study, wage rises were fewer and smaller, and labour market dynamics slowed. Data from a range of Statistics New Zealand’s labour market-related releases is analysed to assess the varying impacts of this recession.

The fall and rise of household saving

The fall and rise of household saving examines household saving patterns. In the year ended March 2011 household saving was positive for the first time in several years. This article discusses some of the possible reasons why this happened. It seems that households have reined-in their spending in response to a weak property market and the global credit crunch.

See the Institutional Sector AccountsReserve Bank of New Zealand, and the Savings Working Group for more information on household savings.

What New Zealand actually does for a living: from manufacturing to a services-oriented economy

What New Zealand actually does for a living: from manufacturing to a services-oriented economy tracks the relative decline of manufacturing and agriculture and the subsequent rise of business services (using data from New Zealand's national accounts) in terms of contribution to GDP from 1972 onwards.

A fresh look at patterns in gadget sales

A fresh look at patterns in gadget sales looks at spending on eight consumer electronic goods from mid-2008 to mid-2011. Retail transaction data, supplied by the market research company GfK, provides a fresh insight into the spending patterns shown in the Retail Trade Survey. December spending peaks are explained and evolving patterns are revealed.

Impact of the Rugby World Cup in New Zealand’s macro-economic statistics

Impact of the Rugby World Cup in New Zealand’s macro-economic statistics describes how the Rugby World Cup affected New Zealand’s economy. In particular, it looks at how the tournament affected the balance of payments and national accounts over the September and December 2011 quarters.

We examined the effects the tournament had on the balance of payments, gross domestic product, international travel and migration, accommodation, and the value of building work put in place. We also analysed International Visitor Survey data about how much visitors spent while in New Zealand for the tournament.

This issue of Economic News was released on Wednesday 4 April 2012.

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