Economic analysis for Auckland
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December 2007
Key economic indicator graphs for Auckland city
Residential building consents in Auckland city for new dwellings
This graph
shows the number of building consents that have been issued for new buildings in
Auckland city. The number of new consents has decreased gradually since
2006, following a peak in 2004. Earlier peaks also occurred in 2002/2003 and
1999/2000.
Non-residential building consents in Auckland city
This graph shows the value of non-residential building
consents in Auckland city for consents for new buildings and for the alteration
of existing buildings. The value of these has fluctuated over the last decade.
The total value has recently risen due to increases in the value of consents for
new buildings. In the last quarter the total value has exceeded the 2005/2006 peak.
Annual value of exports through Auckland airport and
seaport
This graph shows the annual value of exports that have
passed through Auckland airport and seaport. The total value of exports has been
gradually increasing since about 2003\2004, with a rapid growth in the latter
half of 2007.
Annual GDP growth
This graph shows Auckland city's annual GDP growth in the
year ended in each June. GDP growth has slowed in Auckland city since the
immigration fuelled peak in 2003. An earlier peak also occurred in 2000 where
GDP growth was nearly 6 per cent.
Investment intentions (Buildings)
This graph shows whether the net percentage of respondent
businesses in Auckland city have a greater intention of investing in buildings
over the next 12 months compared to the last 12 months. The net percentage of
respondents is calculated by subtracting the percentage of the respondents
saying "greater" from the percentage that say "less". Building
investment intentions have plummeted over the last year. This has been caused by
a difficulty to obtain credit and deteriorating business conditions.
Unemployment rate for Auckland city
This graph shows the annual average unemployment rate in Auckland city. It
has been increasing over the past few years as growth in the labour force has
exceeded growth in employment. The financial crisis has negative implications
for unemployment in the short term. Rates remain below levels experienced in the
late 1990s.
National inflation
This graph shows New Zealand's inflation rate and is
divided into tradable and non-tradable inflation. These have fluctuated over the
last decade, particularly tradable inflation. More recently, tradable inflation
has sharply increased due to food and fuel costs. However, depressed global
demand has reversed this trend in the last few months (not shown as yet in the
data).
Auckland city migration
This graph shows the overseas annual net migration to
Auckland city and is divided into arrivals and departures. Net migration is
below a peak in 2003 and has remained relatively stable over the last four
years, although it has decreased over the last couple of years due to a faster
growth rate in the number of departures than arrivals. However, net migration is
currently above that of ten years ago.
Trade weighted index
(Base June 1979=100)
This graph shows New Zealand's trade weighted index each
month over the last decade. It "is a measure of the value of the New Zealand
dollar (NZD) relative to the currencies of New Zealand's major trading partners
(Reserve Bank of New Zealand)." The TWI has depreciated sharply of late, in
response to the financial crisis abroad.
Retail sales in Auckland city
This graph shows the annual percentage growth in retail
sales in the year to each month in Auckland city. Growth has fluctuated over the
last decade and is currently below a highpoint in 2004 and a smaller peak in
2007. A low point occurred in 1998 where retail sales were actually declining.
A repeat of this is likely as the financial crisis continues to filter through
the economy.
Published December 2008
