New Zealand: Staff Report for the 2014 Article IV Consultation
June 9, 2014
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This 2014 Article IV Consultation highlights that the economic expansion in New Zealand is becoming increasingly embedded and broad based, with growth exceeding 3 percent in the second half of 2013. The drivers include supportive financial conditions, record high export commodity prices, resurgent construction activity related to the Canterbury post-earthquake rebuild and general housing shortages, and a substantial increase in net immigration. Growth is expected to increase to about 3½ percent in 2014 and moderate to a trend rate of 2½ percent over the medium term. Strong construction activity is expected to remain an important driver for near-term growth.
Subject: Exchange rates, External debt, Foreign exchange, Housing prices, Inflation, International trade, Prices, Terms of trade
Keywords: bank financing, consumer confidence confidence indicator, CR, exchange arrangement, Exchange rates, Global, headline inflation, house price inflation, Housing prices, Inflation, ISCR, liability positions vis-à-vis nonresident, New Zealand dollar, potential GDP, rate, Terms of trade
Pages:
38
Volume:
2014
DOI:
Issue:
158
Series:
Country Report No. 2014/158
Stock No:
1NZLEA2014001
ISBN:
9781498392143
ISSN:
1934-7685
