New Zealand Activity Index

The New Zealand activity index is up 2.3 percent on February 2023. The activity outlook, grid demand, and heavy and light traffic movements recorded increases. Activity indicators fell for electronic card transactions, the performance of manufacturing index, and job advertisements together with a lift in jobseeker numbers.

MonthNZAC annual percentage change
Sep-03
Oct-033.975112689
Nov-033.051178811
Dec-034.575068133
Jan-044.097536577
Feb-044.18603679
Mar-045.758351753
Apr-046.279724047
May-045.699633851
Jun-046.806364802
Jul-045.190301036
Aug-045.716835071
Sep-045.348921234
Oct-044.112662067
Nov-045.919993141
Dec-044.108502135
Jan-054.199148088
Feb-055.071567062
Mar-053.695245186
Apr-053.107989217
May-053.498013461
Jun-054.299007162
Jul-052.937691131
Aug-053.067669429
Sep-052.908965905
Oct-052.776963475
Nov-052.440817991
Dec-052.442116105
Jan-062.604314589
Feb-062.387746758
Mar-063.234757215
Apr-062.10185052
May-063.609260303
Jun-062.995282706
Jul-063.116173926
Aug-062.846715525
Sep-062.319585608
Oct-063.478891913
Nov-063.211903194
Dec-063.099186262
Jan-073.513906024
Feb-073.709916299
Mar-073.81209657
Apr-074.350208126
May-073.322765129
Jun-072.955476072
Jul-073.610998112
Aug-074.053454032
Sep-073.901525773
Oct-073.921491516
Nov-074.25986539
Dec-073.611823743
Jan-083.685589424
Feb-083.213128019
Mar-081.515764857
Apr-081.88360222
May-081.636510466
Jun-08-0.019925955
Jul-080.552894469
Aug-080.091251391
Sep-080.584062178
Oct-08-0.214790555
Nov-08-2.250917168
Dec-08-1.493589124
Jan-09-1.98087013
Feb-09-2.92290271
Mar-09-2.354911029
Apr-09-1.840355605
May-09-1.647685583
Jun-09-0.121289405
Jul-09-0.143719949
Aug-09-0.698562484
Sep-090.388922447
Oct-090.545194549
Nov-091.349920994
Dec-092.094083861
Jan-101.892059734
Feb-102.852528632
Mar-103.909020205
Apr-103.654273491
May-102.516975733
Jun-103.083278278
Jul-102.867546969
Aug-103.319377966
Sep-102.843077102
Oct-102.526253742
Nov-103.420776325
Dec-103.025374316
Jan-112.741282576
Feb-112.691028352
Mar-111.558320733
Apr-112.619558167
May-112.826593125
Jun-112.487760395
Jul-112.592225253
Aug-113.301934551
Sep-112.84496828
Oct-111.741188352
Nov-111.719464393
Dec-111.946885248
Jan-122.239950152
Feb-122.801697516
Mar-122.279256184
Apr-121.734202515
May-123.225724994
Jun-122.428696798
Jul-121.887792319
Aug-121.44531735
Sep-121.310464506
Oct-122.392521523
Nov-122.424980875
Dec-122.091539776
Jan-132.917197149
Feb-132.518793407
Mar-132.579884296
Apr-132.537509267
May-132.781676104
Jun-132.600811937
Jul-133.59855701
Aug-132.943894561
Sep-133.171976377
Oct-133.093625136
Nov-133.331437157
Dec-133.392114964
Jan-143.697336039
Feb-143.778664393
Mar-143.677831377
Apr-143.745172061
May-143.309849091
Jun-142.836977043
Jul-143.315590731
Aug-143.620035699
Sep-143.527073901
Oct-144.002241376
Nov-143.318521987
Dec-143.658860454
Jan-153.193015867
Feb-153.329286339
Mar-153.536072
Apr-152.85227411
May-152.597177331
Jun-153.446651474
Jul-153.046855057
Aug-152.698806744
Sep-153.030518975
Oct-152.457825252
Nov-152.995686113
Dec-153.459536598
Jan-162.777398657
Feb-163.236692721
Mar-163.182978989
Apr-163.213974738
May-162.792155379
Jun-163.00555273
Jul-162.566223734
Aug-163.296343336
Sep-162.952741711
Oct-162.325756035
Nov-162.345249307
Dec-162.45557225
Jan-172.98282195
Feb-173.250373981
Mar-173.589794357
Apr-173.247021643
May-174.56692144
Jun-173.690323005
Jul-173.565135729
Aug-173.269401014
Sep-173.205397655
Oct-173.30471276
Nov-173.595319827
Dec-172.747359342
Jan-182.914225461
Feb-182.1481687
Mar-182.457897412
Apr-183.275503645
May-182.504896335
Jun-182.540068154
Jul-182.190668864
Aug-182.251562257
Sep-182.26977087
Oct-182.558452634
Nov-181.475747016
Dec-181.305949722
Jan-192.263990786
Feb-192.891112792
Mar-192.144075509
Apr-191.996083905
May-191.452833939
Jun-191.083663627
Jul-191.016739395
Aug-191.263106653
Sep-191.305129441
Oct-191.627407636
Nov-191.846541824
Dec-192.333617506
Jan-201.609462519
Feb-202.107088881
Mar-20-2.526539119
Apr-20-13.4403628
May-20-3.497482521
Jun-200.64171199
Jul-201.80578213
Aug-20-0.868304446
Sep-201.414799313
Oct-201.349560524
Nov-201.447294822
Dec-201.627283877
Jan-211.15222863
Feb-210.917076634
Mar-215.939958581
Apr-2133.55864302
May-218.721973173
Jun-215.170883232
Jul-214.637003747
Aug-21-0.728239541
Sep-210.063141778
Oct-210.93311588
Nov-212.111596073
Dec-212.276292744
Jan-222.448848509
Feb-221.692688608
Mar-221.44249156
Apr-220.917472287
May-221.089684436
Jun-220.680590771
Jul-220.551960829
Aug-226.455780968
Sep-224.77504838
Oct-223.530400663
Nov-221.231071433
Dec-220.525543863
Jan-230.918530699
Feb-231.407866865
Mar-231.446709353
Apr-230.890349588
May-230.863169997
Jun-231.021894539
Jul-230.486803825
Aug-231.316093854
Sep-230.052611884
Oct-230.174654994
Nov-231.036361756
Dec-230.992782586
Jan-241.485389805
Feb-242.303660906

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  • category: activity
  • indicator: New Zealand Activity Index (NZAC)
  • series: New Zealand Activity Index (NZAC).

What is measured

NZAC summarises several monthly indicators, including spending, unemployment, job vacancies, traffic volumes, electricity generation, business outlook, and manufacturing activity.

Why it is important

NZAC is a broad measure of economic activity. It provides government policymakers, markets, and the general public with a more timely and frequent indicator of economic activity, which complements a more definitive measure, such as GDP (gross domestic product).

Where this data comes from

The NZAC index has been constructed by staff at the Treasury, Stats NZ, and the Reserve Bank of New Zealand. It makes use of eight monthly indicators of economic activity that are sourced from the public and private sectors as featured in the table below.
Sources of data for NZAC

Source/series (monthly)

Timeliness

ANZ activity outlook

~ -3 days

Ministry of Social Development jobseeker numbers (work ready)

~ 7 days

ANZ truckometer - light traffic

~ 11 days

ANZ truckometer - heavy traffic

~ 11 days

Stats NZ electronic card transactions (ECT)

~ 12 days

Electricity Authority electricity generation (hydro + thermal)

~ 14 days

SEEK new job listings

~ 14 days

BNZ/BusinessNZ Performance of Manufacturing Index (PMI)

~ 14 days

Definitions and metadata

New Zealand activity index (NZAC): Technical note explains the methodology used to construct the NZAC index, lists data sources, and explains the relationship between the index and GDP.

New Zealand activity index (NZAC): Q&A note provides answers from the Treasury about how to interpret the NZAC index and other background questions.

/Stats NZ Public Release. This material from the originating organization/author(s) might be of the point-in-time nature, and edited for clarity, style and length. Mirage.News does not take institutional positions or sides, and all views, positions, and conclusions expressed herein are solely those of the author(s).View in full here.