New Zealand: 2012 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice
June 7, 2012
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The New Zealand economy continues to grow at a modest pace. The 2012 Article IV Consultation reports that domestic demand has remained soft as households and businesses continue to deleverage amid a weak housing market and an uncertain outlook. Executive Directors endorse that output growth should pick up somewhat in 2012 as earthquake reconstruction spending is expected to gain pace. High household debt is likely to weigh on the growth of private consumption as households will need to save to strengthen their balance sheets.
Subject: Asset and liability management, Balance of payments, Banking, Current account deficits, Debt reduction, External debt, External position, Foreign liabilities, International trade, Terms of trade
Keywords: ANNEX I. fund relation, ANNEX II, CR, Current account deficits, Debt reduction, exchange arrangement, Foreign liabilities, Global, ISCR, liability positions vis-à-vis nonresident, revisions to GDP, social security fund, surplus, Terms of trade
Pages:
45
Volume:
2012
DOI:
Issue:
132
Series:
Country Report No. 2012/132
Stock No:
1NZLEA2012001
ISBN:
9781475504125
ISSN:
1934-7685
