New Zealand : 2017 Article IV Consultation- Press Release; Staff Report; and Statement by the Executive Director for New Zealand

Author/Editor:

International Monetary Fund. Asia and Pacific Dept

Publication Date:

May 8, 2017

Electronic Access:

Free Full Text (PDF file size is 1666 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This 2017 Article IV Consultation highlights New Zealand’s economic expansion, which since early 2011 gained further broad-based momentum in 2016. GDP growth accelerated to 4 percent, and the output gap has roughly closed. Reconstruction spending after the 2011 Canterbury earthquake was an important catalyst, but the expansion has also been supported by accommodative monetary policy, a net migration wave, improving services exports, and strong terms of trade. There was some weakening of momentum in the fourth quarter of 2016, owing to softer private consumption and a sharp drop in exports, but it is expected to be temporary. Growth should rebound and then moderate toward trend in the medium term, in particular as net migration normalizes.

Series:

Country Report No. 17/111

Subject:

English

Publication Date:

May 8, 2017

ISBN/ISSN:

9781475599091/1934-7685

Stock No:

1NZLEA2017002

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

73

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