Last week Stats NZ released the first tranche of data from the 2023 Census, an exciting milestone for anyone with a thirst for regional or socioeconomic data. With the prior Census held in 2018, this represents the first Census data since the start of the COVID-19 pandemic. In this article, we dive into the first tranche of data, explain why the good stuff is yet to come, and raise a note of caution for population comparisons with the first tranche of data. Read

A deteriorating economic climate continues to make life difficult for regional economies, according to Infometrics’ latest monitoring of regional economies. The March 2024 Infometrics Quarterly Economic Monitor suggests that economic activity in the first three months of 2024 was 0.3%pa higher than ... Read

Principal Economist, Brad Olsen, examines rising local government costs. With expectations that rates rises in 2024 will be the largest since local council reforms in 1989... Read

We are excited to launch an expansion of our Quarterly Economic Monitor (QEM) to provide a broader perspective on the prosperity of New Zealand’s communities. In this article, we introduce and explore the 13 new indicators which reflect economic, labour, social, and housing outcomes at a local level. Read

Inflation is moderating, which is encouraging news after the highest rise in prices in three decades after the COVID-19 pandemic and associated supply chain issues, emergency stimulus, and high demand. Although the national inflation rate is regularly analysed and discussed, regional price changes a... Read

This article outlines how the Israel-Gaza conflict is impacting freight prices, and the implications for New Zealand. Freight prices had been steadily declining since mid-2021 as pandemic-related supply-chain issues dissipated, but picked up sharply in January. Although prices are still around a qua... Read

Annual net migration reached a new record high of almost 129,000 people in the year to October, despite net departures of NZ citizens surpassing the previous biggest outflow that occurred in the wake of the 2011 Christchurch earthquake. The influx of migrants is creating renewed demand pressures in ... Read

Wholesale interest rates fell sharply last week, with the two-year swap rate falling 29 basis points on 14 December. Rates are now sitting at a nine-month low, adding downward pressure to retail interest rates. Lower mortgage rates could potentially stimulate economic activity when the battle agains... Read

The outlook for the primary sector remains worse for the year ahead, driven by several factors including higher costs, lower global demand, and weather influences. Read

Almost everyone we talk to in the construction industry at the moment wants to know how the residential build rate, or the number of completions, compares to new dwelling consent numbers. The heightened interest is understandable: no one believes that we’ve been building new homes at the same rate as we’ve been consenting them. Although the consent total peaked at 51,015pa in May last year, most industry players believe the build rate will only have got up to somewhere between 35,000 and 42,000pa, because the industry doesn’t have the capacity to deliver a greater volume of new homes. Read