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

Author/Editor:

International Monetary Fund

Publication Date:

May 5, 2005

Electronic Access:

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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.

Series:

Country Report No. 05/152

Subject:

English

Publication Date:

May 5, 2005

ISBN/ISSN:

9781451830293/1934-7685

Stock No:

1NZLEA2005001

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

50

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