Treasury Release: Monthly Economic Indicators August 2016

The August Monthly Economic Indicators (MEI) was published today on the Treasury website at 2:00pm. The report provides a summary of recent economic events.

The main points:
• Solid labour demand drove growth in aggregate labour earnings, boosting household spending in the June quarter.
• The upswing in activity continued in the September quarter, driven by net migration, tourism and housing demand.
• Despite robust demand, the inflation outlook remains subdued.
• Weak import values and a pick-up in key commodity prices point to a lower current account deficit than forecast.

This month’s special topic: Why has the current account deficit remained moderate?

Read more at: http://www.treasury.govt.nz/economy/mei/aug16