Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

ANZ Commodity Prices - April 2000

Data Flash (New Zealand)
ANZ Commodity Prices - April 2000

ANZ Commodity Price Index data
:::::::::::::::::::: NZD Index::::::::::
World Price Index
::::::::::::::: mom %::::: ann. %::::: mom. %::::: ann. %
Oct-99:::::::::: +3.1:::::::::: +3.8:::::::::: +0.8::::::::::+1.0
Nov-99:::::::::: +3.9:::::::::: +9.5:::::::::: +3.8::::::::::+4.1
Dec-99:::::::::: +2.9::::::::::+14.9:::::::::: +2.3::::: +10.8
Jan-00:::::::::: +0.4::::::::::+15.3:::::::::: +1.4::::::::::+9.5
Feb-00:::::::::: +5.4::::::::::+22.7:::::::::: +2.1::::: +11.5
Mar-00:::::::::: +1.4::::::::::+23.6:::::::::: +1.4::::: +14.1
Apr-00:::::::::: -2.6::::::::::+21.4:::::::::: -1.2::::: +11.2
Source: DB Global Markets Research, ANZ Bank


Key facts

The foreign currency price of New Zealand's commodity exports fell by 1.2% in April. However, the originally recorded 0.7% decline for the previous month was significantly revised up to +1.4%.

The April weakness was caused by falling prices for lamb, aluminium, sawn timber and skins.

Relative to April 1999, commodity prices were up 11.2%.

In NZD terms, commodity prices fell by 2.5% in April, due to the weaker world prices and a temporary recovery in the NZD. April prices were up 21.4% on last year.

Comments

We consider the small setback for commodity prices in April to be a temporary development, with global trends suggesting that prices will continue to firm.

The ANZ commodity prices series is a reasonable indicator for the official Statistics NZ export price data (to be published on 8 June). The indicator points to a rise of around 3.0%, which compares to an estimate of zero included in yesterday's RBNZ forecasts. Together with the RBNZ's zero estimate for import prices in Q1 (we expect +2.6%), that confirms a significant upside risk to the RBNZ inflation forecasts from international price pressures.

Ulf Schoefisch. Chief Economist, New Zealand

This, along with an extensive range of other publications, is available on our web site http://research.gm.db.com

In order to read our research you will require the Adobe Acrobat Reader which can be obtained from their website http://www.adobe.com for free.

For answers to your EMU questions, check Deutsche Bank's EMU web site http://www.db.com/emu or email our helpline business.emu@db.com.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

More To Do: Tax Working Group Publishes Interim Report

Chair Sir Michael Cullen says that the Group has conducted a wide-ranging review in order to assess the structure, fairness, and balance of the tax system. The Group has also brought a broad conception of wellbeing and living standards to its work... More>>

ALSO:

"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>

ALSO:

Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>

ALSO:

Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>

ALSO:

Talking Up The Economy: NZD Gains On PM's Mistaken GDP Comment

Her comments were downplayed by her chief press secretary who said she was referring the government's June year financial statements and had "made a mistake." More>>

ALSO: