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Treasury Releases August Update To NZAC

NEW ZEALAND

The August update of the Treasury's NZ Activity Index (NZAC) was released today. Key points to note:

  • Activity in August is around 1.4% down compared to August 2019, after a recovery of 2.2% and 0.6% in July and June respectively.
  • Most constituent indicators dipped below last year's levels, with the temporary escalation of alert levels.
  • The NZAC value for July was revised up from 2% in the previous release to 2.2% due to positive revisions in the value of electronic card spending and new job advertisements for July.
  • Click here for the full release.

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