NZ Activity Index updated for July

The New Zealand Activity Index (NZAC) has been updated today for July. 

Key points to note:

• Activity in July is around 2% up on same month last year after a slight recovery of 0.6% in June.
• Most constituent indicators are above last year’s levels. The main exceptions are the labour market indicators – which continue to dampen the index. 
• The NZAC value for June was revised up from -0.9% in the previous release to 0.6% due to a large positive revision in the light truckometer index value for June. 

The next update of the NZAC for August activity is scheduled for publication on 25 September. This will take into account the June quarter GDP release due to be published on 17 September. Depending on the level of June quarter GDP, there may be a revision to the scaling of NZAC (see the NZAC technical note for more details).

For more details, you’ll find the NZAC first up in this week’s Weekly Economic Update.

To access the data, visit the Stats NZ COVID-19 data portal.