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


New houses, machinery drive up capital goods price

Embargoed until 10:45am – 19 November 2008

New houses and machinery drive up capital goods prices

The Capital Goods Price Index (CGPI) rose 1.4 percent in the September 2008 quarter, Statistics New Zealand said today. Higher construction costs for new houses and increases in prices for machinery were the main contributors to the rise. All six asset groups in the CGPI rose in this quarter.

The most significant upward contribution came from the residential buildings index (up 1.4 percent) in the September 2008 quarter, reflecting higher costs for constructing new houses. In the year to the September 2008 quarter, the residential buildings index rose 4.4 percent.

The plant, machinery and equipment index rose 1.1 percent and made the second most significant contribution to the CGPI in this quarter. The main drivers for this rise were higher supplier prices for furniture, and increased prices for agriculture and forestry equipment. In the year to the September 2008 quarter, the plant, machinery and equipment index rose 3.1 percent.

On an annual basis, the CGPI rose 3.8 percent in the year to the September 2008 quarter. This followed rises of 2.3 percent and 4.0 percent in the years to the September 2007 and September 2006 quarters, respectively.

Geoff Bascand
Government Statistician
19 November 2008


See also the Hot Off The Press information release Capital Goods Price Index: September 2008 quarter (PDF).


© Scoop Media

Business Headlines | Sci-Tech Headlines


Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>


Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>


Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>


Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>