Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

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

 

ANZ Commodity Price Index - July 2002

Sun, 4 Aug 2002

Data Flash (New Zealand)
ANZ Commodity Price Index - July 2002

The average foreign currency price of New Zealand's commodity exports fell by 0.7% mom in July. The average price was 9.6% below last year's level.

In foreign currency terms, dairy prices fell by a further 1.2% mom, while meat and wool prices also recorded further modest weakness. By contrast, forestry product prices continued to rise further (+1.2% mom), taking the yoy growth rate up to +17.9%.

Reflecting the renewed depreciation of the NZD during July, the aggregate NZD price index rose by 2.4% mom. It was 21.4% weaker than a year earlier.

These latest data are consistent with our forecast of a 1.5% qoq decline in the terms of trade in Q3, following a similar result for the June quarter. For 2002 as a whole we expect a 4.4% fall in the terms of trade, which will make a significant contribution to the expected slowdown in GDP growth.

Ulf Schoefisch, Chief Economist, New Zealand


Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.