Cover IMF Staff Country Reports
New Zealand: Staff Report for the 2005 Article IV Consultation Discussions
Author: International Monetary Fund
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2005: Issue 152
Language:
English
Publication Date:
05 May 2005
DOI:
https://doi.org/10.5089/9781451830293.002
ISBN:
9781451830293
ISSN:
1934-7685
Pages:
50
Keywords:
ISCR; CR; net; GDP; staff; debt; New Zealand dollar; headline CPI inflation; IMF information notice system index; consumer spending; banking system; debt ratio; Inflation; Productivity; Employment; Australia and New Zealand; Global
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This 2005 Article IV Consultation highlights that New Zealand’s GDP growth was particularly strong in 2004, at 4.8 percent, led by a surge in domestic demand. Private consumption grew by 6 percent, reflecting high employment growth, strong commodity prices, and household borrowing against rising housing values. Business investment also increased rapidly, powered by robust sales, and strong profitability. Growth is projected to slow in the near term, to about 2¾ percent in 2005–06. Consumer spending is expected to moderate owing to a cooling of the housing market and the effects of higher interest rates.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund