New Zealand: Staff Report for the 2005 Article IV Consultation Discussions

May 5, 2005

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New Zealand: Staff Report for the 2005 Article IV Consultation Discussions, (USA: International Monetary Fund, 2005) accessed November 22, 2024

Summary

This 2005 Article IV Consultation highlights that New Zealand’s GDP growth was particularly strong in 2004, at 4.8 percent, led by a surge in domestic demand. Private consumption grew by 6 percent, reflecting high employment growth, strong commodity prices, and household borrowing against rising housing values. Business investment also increased rapidly, powered by robust sales, and strong profitability. Growth is projected to slow in the near term, to about 2¾ percent in 2005–06. Consumer spending is expected to moderate owing to a cooling of the housing market and the effects of higher interest rates.

Subject: Employment, External debt, Inflation, Labor, Prices, Production, Productivity

Keywords: Australia and New Zealand, Banking system, Consumer spending, CR, Debt, Debt ratio, Employment, GDP, Global, Headline CPI inflation, IMF information notice system index, Inflation, ISCR, Net, New Zealand dollar, Productivity, Staff

Publication Details

Pages:

50
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2005/152
Stock No:

1NZLEA2005001
ISBN:

9781451830293
ISSN:

1934-7685

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