Treasury releases June monthly economic indicators

Monday, 5 July 2004, 7:17 pm
Press Release: New Zealand Treasury

The Treasury releases June monthly economic indicators

The June Monthly Economic Indicators (MEI) report was published on the Treasury website today. The MEI summarises economic events over the last month. To read the current edition click here http://www.treasury.govt.nz/mei/jun04/default.asp

GDP data was one of the key data releases of the past month. GDP increased 2.3% in the March quarter, and was 3.6% higher in the year ended March 2004. The result for the quarter was driven by domestic demand, with growth stronger than forecast in the Budget Update. Although the net external sector subtracted from growth, exports continued to recover.

The June MEI also contains a special topic. This article compares recent NZ GDP and per capita GDP growth with the OECD, and it separates recent NZ and Treasury forecast GDP growth into the various supply-side factors.

For more information about the Monthly Economic Indicators click here http://www.treasury.govt.nz/mei/default.asp

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