NZD News

The Reserve Bank of New Zealand said loan-to-value ratio which was introduced to restrict mortgage lending will remain in place despite a reduction in housing risk.

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The total volume of retail sales in New Zealand jumped a seasonally adjusted 1.5 percent on quarter in the third quarter of 2014, Statistics New Zealand said on Monday.

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Output producer prices were down 1.1 percent on quarter in the third quarter of 2014, Statistics New Zealand said on Thursday, following the 0.5 percent decline in the second quarter.

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The results of a business confidence survey by the ANZ Bank showed that business confidence improved in November. The business confidence index rose to 31.5 in November from 26.5 in October. The outlook index for activity improved 3.9 points to 41.7 and the investment index also rose roughly 3 points to 19.2.

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The volume of manufacturing activity in New Zealand gained a seasonally adjusted 0.4 percent in the third quarter of 2014, Statistics New Zealand said on Monday - following the 0.6 percent decline in the second quarter.

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Total credit card spending in New Zealand was down a seasonally adjusted 0.3 percent on month in November, Statistics New Zealand said on Tuesday.

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Total credit card spending in New Zealand contracted a seasonally adjusted 0.3 percent on month in November, Statistics New Zealand said on Tuesday.

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Food prices in New Zealand dipped 0.5 percent on month in November, Statistics New Zealand said on Thursday - following the flat reading in October and the 0.8 percent decline in September.

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New Zealand's gross domestic product expanded 1.0 percent on quarter in the third quarter of 2014, Statistics New Zealand said on Thursday.

That topped forecasts for an increase of 0.7 percent, which would have been unchanged from the previous three months.

On a yearly basis, GDP added 2.9 percent - below expectations for 3.3 percent and down from the downwardly revised 3.2 percent in the second quarter, (originally 3.9 percent).


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New Zealand posted a merchandise trade deficit of NZ$213 million in November, Statistics New Zealand said on Tuesday - representing 5.3 percent of exports.

The headline figure beat forecasts for a shortfall of 575 million following the NZ$908 million deficit in October.

Exports dipped 9.5 percent on year to NZ$4.02 billion - missing forecasts for NZ$4.03 billion, which would have been roughly unchanged from the previous month.

Dairy exports drove the fall, down 27 percent, with the quantity down 3.1 percent. The fall in dairy reflects the record high levels exported, mainly to China, in November 2013. A 20 percent rise in meat exports partially offset the fall, led by a price-driven rise in frozen beef.

"The fall in export values reflects a return from the high values late last year, led by China," international statistics manager Jason Attewell said. "The trend for exports to China is 42 percent lower than the series peak in December 2013, and is now at similar levels to 2012."

Imports fell an annual 1.3 percent to NZ$4.24 billion versus expectations for NZ$4.58 billion and down from NZ$4.94 billion a month earlier.

Capital goods (aircraft and helicopters) led the fall.

Year to date, New Zealand has a trade deficit of NZ$453 million - topping expectations for a deficit of NZ$774 million following the NZ$107 million annual deficit in the previous month.

This is the smallest November deficit since 2010, the bureau said. Record high exports late last year resulted in the first trade surplus for a November month (NZ$153 million) since 1991.


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