Figure 1 - Consumers Price Index (excludes interest rates)

annual % change

1920Q1
1920Q2
1920Q3
1920Q4
1921Q1
1921Q2
1921Q3
1921Q4
1922Q1
1922Q2
1922Q3
1922Q4
1923Q1
1923Q2
1923Q3
1923Q4
1924Q1
1924Q2
1924Q3
1924Q4
1925Q1
1925Q2
1925Q3
1925Q4
1926Q1
1926Q2
1926Q3
1926Q4
1927Q1
1927Q2
1927Q3
1927Q4
1928Q1
1928Q2
1928Q3
1928Q4
1929Q1
1929Q2
1929Q3
1929Q4
1930Q1
1930Q2
1930Q3
1930Q4
1931Q1
1931Q2
1931Q3
1931Q4
1932Q1
1932Q2

11.9
13.7
15.4
11.9
8.7
3.3
-1.8
-6.5
-11.1
-10.9
-10.8
-7.9
-4.8
-2.6
-0.4
1.4
3.2
2.2
1.1
-0.2
-1.5
0.1
1.8
2.3
1.8
1.1
0.1
-0.6
-0.1
-0.8
-1.4
-0.9
-0.8
0.2
0.2
0.6
0.1
-0.7
0
-0.5
-0.6
-1.1
-2.3
-4
-6.4
-7.8
-9.1
-7.8
-6.1
-8.1

Source: SNZ, RBNZ

RBNZ estimates because of missing data in the o
Quarters that were impacted by the introduction o

1932Q3
1932Q4
1933Q1
1933Q2
1933Q3
1933Q4
1934Q1
1934Q2
1934Q3
1934Q4
1935Q1
1935Q2
1935Q3
1935Q4
1936Q1
1936Q2
1936Q3
1936Q4
1937Q1
1937Q2
1937Q3
1937Q4
1938Q1
1938Q2
1938Q3
1938Q4
1939Q1
1939Q2
1939Q3
1939Q4
1940Q1
1940Q2
1940Q3
1940Q4
1941Q1
1941Q2
1941Q3
1941Q4
1942Q1
1942Q2
1942Q3
1942Q4
1943Q1
1943Q2
1943Q3
1943Q4
1944Q1
1944Q2
1944Q3
1944Q4
1945Q1
1945Q2
1945Q3
1945Q4

-7.8
-9.2
-8.9
-5.1
-3.1
-0.8
0.9
2
1.4
1.3
2.8
2.8
3.8
5.5
1.6
2.5
3.8
3.3
6.9
7.4
6.5
7.3
5
3.5
2.7
0.6
2.7
3.4
4.5
7.7
4.5
4.7
4.7
2.7
4.2
3.9
2.9
3.8
2.3
2.6
4.2
4
4
2.6
1.8
1.4
1.8
2
1.7
1.5
1.8
1.3
1.1
1.3

1946Q1
1946Q2
1946Q3
1946Q4
1947Q1
1947Q2
1947Q3
1947Q4
1948Q1
1948Q2
1948Q3
1948Q4
1949Q1
1949Q2
1949Q3
1949Q4
1950Q1
1950Q2
1950Q3
1950Q4
1951Q1
1951Q2
1951Q3
1951Q4
1952Q1
1952Q2
1952Q3
1952Q4
1953Q1
1953Q2
1953Q3
1953Q4
1954Q1
1954Q2
1954Q3
1954Q4
1955Q1
1955Q2
1955Q3
1955Q4
1956Q1
1956Q2
1956Q3
1956Q4
1957Q1
1957Q2
1957Q3
1957Q4
1958Q1
1958Q2
1958Q3
1958Q4
1959Q1
1959Q2

0.9
1
1.3
-0.1
0.4
0.8
1.8
10.1
10.1
10.6
9.5
1.6
2.1
1.1
1.7
1.8
2
5
7.2
8.5
9.9
11.1
11
11.9
11.7
8.6
6.4
4.6
4.3
4.1
4.1
5.6
5.4
5.9
4.9
2.4
3
2.3
2.3
2.5
2.2
2.6
4.6
4.6
2.8
2.8
1.3
1.8
2.7
2.3
6.3
6.5
6.6
5.8

1959Q3
1959Q4
1960Q1
1960Q2
1960Q3
1960Q4
1961Q1
1961Q2
1961Q3
1961Q4
1962Q1
1962Q2
1962Q3
1962Q4
1963Q1
1963Q2
1963Q3
1963Q4
1964Q1
1964Q2
1964Q3
1964Q4
1965Q1
1965Q2
1965Q3
1965Q4
1966Q1
1966Q2
1966Q3
1966Q4
1967Q1
1967Q2
1967Q3
1967Q4
1968Q1
1968Q2
1968Q3
1968Q4
1969Q1
1969Q2
1969Q3
1969Q4
1970Q1
1970Q2
1970Q3
1970Q4
1971Q1
1971Q2
1971Q3
1971Q4
1972Q1
1972Q2
1972Q3
1972Q4

2.1
1.1
0.5
0.4
0.3
1.6
1.6
1.4
2.1
2.1
2.9
3.3
2.5
2.1
1.8
1.9
1.9
2.2
2.5
3
3.8
4.5
4.3
3.6
3.4
2.4
2.8
3.3
2.6
2.4
4.2
6.4
7
6.6
5
3.6
3.6
5.1
5.5
5.2
5.1
4
4.8
5.2
6.1
10
10.3
11
11.1
9.1
8.5
7.4
6.5
5.5

1973Q1
1973Q2
1973Q3
1973Q4
1974Q1
1974Q2
1974Q3
1974Q4
1975Q1
1975Q2
1975Q3
1975Q4
1976Q1
1976Q2
1976Q3
1976Q4
1977Q1
1977Q2
1977Q3
1977Q4
1978Q1
1978Q2
1978Q3
1978Q4
1979Q1
1979Q2
1979Q3
1979Q4
1980Q1
1980Q2
1980Q3
1980Q4
1981Q1
1981Q2
1981Q3
1981Q4
1982Q1
1982Q2
1982Q3
1982Q4
1983Q1
1983Q2
1983Q3
1983Q4
1984Q1
1984Q2
1984Q3
1984Q4
1985Q1
1985Q2
1985Q3
1985Q4
1986Q1
1986Q2

6
7.6
8.9
10.2
10.3
10
11.5
12.6
13.3
15
14.9
15.9
17.3
17.8
17.4
15.5
13.4
13.8
14
15.2
14.7
12.4
11.1
10.1
10.3
12.3
15.3
16.7
18.4
18
16.3
16.1
15.2
15
15.2
15.3
15.4
16.3
15.9
14.3
11.7
7.4
4.9
3.5
3.5
4.8
7
9.3
13.2
16.3
15.8
14.5
12.1
9.8

1986Q3
1986Q4
1987Q1
1987Q2
1987Q3
1987Q4
1988Q1
1988Q2
1988Q3
1988Q4
1989Q1
1989Q2
1989Q3
1989Q4
1990Q1
1990Q2
1990Q3
1990Q4
1991Q1
1991Q2
1991Q3
1991Q4
1992Q1
1992Q2
1992Q3
1992Q4
1993Q1
1993Q2
1993Q3
1993Q4
1994Q1
1994Q2
1994Q3
1994Q4
1995Q1
1995Q2
1995Q3
1995Q4
1996Q1
1996Q2
1996Q3
1996Q4
1997Q1
1997Q2
1997Q3
1997Q4
1998Q1
1998Q2
1998Q3
1998Q4
1999Q1
1999Q2
1999Q3
1999Q4

10.7
18.7
18.6
18.9
16.6
8.6
8.1
5.9
5.6
5.0
4.5
4.9
7.6
7.6
7.4
7.9
5.0
4.7
4.5
3
2.9
2
2
2.2
2
2.2
1.7
1.8
1.8
1.6
1.6
1.6
1.9
2.3
2.6
2.7
2.2
2.1
2.1
2.3
2.3
2.4
2
1.5
1.8
1.6
1.7
1.7
1.7
1.1
1
1.2
1.1
1.3

2000Q1
2000Q2
2000Q3
2000Q4
2001Q1
2001Q2
2001Q3
2001Q4
2002Q1
2002Q2
2002Q3
2002Q4
2003Q1
2003Q2
2003Q3
2003Q4
2004Q1
2004Q2
2004Q3
2004Q4
2005Q1
2005Q2
2005Q3
2005Q4
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2

1.7
2
3
4
3.1
3.2
2.4
1.8
2.6
2.8
2.6
2.7
2.5
1.5
1.5
1.6
1.6
2.4
2.5
2.7
2.8
2.9
3.4
3.2
3.3
4.0
3.5
2.6
2.5
2.0
1.8
3.2
3.4
4.0
5.1
3.4
3.0
1.9
1.7
2.0
2.0
1.7
1.5
4.0
4.5
5.3
4.6
1.8
1.6
1.0
0.8
0.9
0.9
0.7

2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4

1.4
1.6
1.5
1.6
1.0
0.8
0.3
0.4
0.4
0.1

ecause of missing data in the official CPI series

impacted by the introduction of GST

Figure 2 - Real Gross Domestic Product

annual average % change
NZ
1990Q1
1990Q2
1990Q3
1990Q4
1991Q1
1991Q2
1991Q3
1991Q4
1992Q1
1992Q2
1992Q3
1992Q4
1993Q1
1993Q2
1993Q3
1993Q4
1994Q1
1994Q2
1994Q3
1994Q4
1995Q1
1995Q2
1995Q3
1995Q4
1996Q1
1996Q2
1996Q3
1996Q4
1997Q1
1997Q2
1997Q3
1997Q4
1998Q1
1998Q2
1998Q3
1998Q4
1999Q1
1999Q2
1999Q3
1999Q4
2000Q1
2000Q2
2000Q3
2000Q4
2001Q1
2001Q2
2001Q3
2001Q4
2002Q1
2002Q2

Australia
0.2
-0.5
-0.4
0
0.1
0.2
-0.3
-1.3
-1.1
-0.5
-0.1
0.7
1.1
1.9
3.6
5.2
6.4
6.6
6
5.6
5.1
5.2
5.1
4.8
4.6
4.2
4
4.1
3.6
3.5
3.3
2.4
2
0.9
0.2
0.1
0.6
1.6
3.2
4.6
5.5
6.1
5.3
4.2
2.8
2
1.9
2.5
3.4
4.1

Source: Haver, SNZ

USA
4.3
3.5
2.3
1.4
0.3
-0.4
-0.6
-1.3
-0.7
0.4
1.2
3
3.8
4
4.1
4.1
3.7
4
4.8
4.6
4.5
3.9
3.2
3.6
3.9
3.9
3.9
3.9
3.5
3.9
4.3
3.8
4.8
4.4
4.6
5.1
4.8
5
4.7
4
3.9
3.9
3.7
3.4
2.7
1.9
1.7
2.6
3
3.9

Japan
3.3
3
2.5
1.9
1
0.2
-0.2
-0.1
0.9
1.8
2.8
3.6
3.7
3.5
3.2
2.7
2.8
3.2
3.7
4
4
3.6
3.2
2.7
2.5
2.9
3.3
3.8
4.3
4.4
4.5
4.5
4.5
4.4
4.3
4.4
4.5
4.6
4.8
4.7
4.5
4.7
4.6
4.1
3.6
2.5
1.6
1
0.8
0.9

UK
4.5
5.1
5.8
5.3
6
5.2
3.8
3.4
2.5
1.7
1.6
0.9
0.7
0.6
0.1
0.2
-0.2
0.1
0.9
0.8
0.9
1.3
1.1
1.9
2.7
2.5
2.5
2.6
2.7
2.5
2.4
1.6
0.1
-0.7
-1.6
-2
-1.5
-1
-0.5
-0.2
0.5
1.1
1.7
2.3
2
1.6
1.1
0.4
-0.4
-0.7

2.8
2.7
2.3
1.8
0.4
-0.5
-0.9
-1.3
-0.4
0.2
0.7
1.3
1.7
2.2
2.7
3.5
3.9
4.5
4.9
5
5.1
4.5
3.8
3.5
3.2
3.4
3.5
3.5
3.4
3.4
3.1
2.6
3
2.6
3
3.4
2.8
2.9
3
3.1
3.8
4.3
4
3.8
3.4
2.6
2.6
2.8
2.4
2.6

2002Q3
2002Q4
2003Q1
2003Q2
2003Q3
2003Q4
2004Q1
2004Q2
2004Q3
2004Q4
2005Q1
2005Q2
2005Q3
2005Q4
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3

4.7
4.9
4.9
4.6
4.5
4.4
4.6
5.2
5.0
4.6
3.8
3.2
3.2
3.2
3.4
3.1
2.8
3.0
2.9
3.2
3.4
3.3
2.9
2.0
0.9
-0.3
-1.3
-1.9
-2.0
-1.6
-0.5
0.6
1.4
1.5
1.4
1.1
1.2
2.0
2.5
2.8
2.7
2.6
2.3
2.3
2.6
2.4
2.7
3.0
3.2
3.7
3.6
3.3
2.9

4.3
4
3.8
3.1
2.7
3
3.5
4.2
4.5
4.0
3.5
3.2
3.1
3.2
3.2
3.0
2.9
2.7
3.1
3.8
4.1
4.5
4.3
3.7
3.2
2.5
2.1
1.8
1.6
1.8
1.8
2.0
2.3
2.4
2.4
2.4
2.5
2.6
3.2
3.6
3.7
3.6
3.0
2.4
2.1
2.0
2.4
2.5
2.7
2.6
2.4
2.2
2.2

1.3
1.8
1.8
2
2.2
2.8
3.5
4.1
4.1
3.8
3.6
3.4
3.4
3.3
3.2
3.1
2.8
2.7
2.2
1.9
1.9
1.8
1.7
1.5
0.9
-0.3
-1.4
-2.6
-3.4
-2.8
-1.5
0.2
1.8
2.5
2.6
2.3
1.9
1.6
1.8
2.0
2.3
2.2
1.8
1.4
1.2
1.5
1.7
2.1
2.4
2.4
2.7
2.7
2.6

-0.4
0.3
1.1
1.6
1.6
1.7
2.3
2.5
2.6
2.4
1.5
1.2
1.0
1.3
1.9
1.8
1.7
1.7
1.8
2.0
2.3
2.2
1.8
1.2
0.6
-1.0
-3.7
-5.3
-6.5
-5.5
-2.0
0.7
3.7
4.7
3.5
2.0
0.4
-0.5
0.4
1.6
1.8
1.7
0.9
0.4
0.8
1.4
2.0
1.6
0.8
0.0
-1.0
-0.7
0.0

2.6
2.5
3.1
3.1
3.2
3.3
3.1
3.0
2.9
2.5
2.2
2.4
2.3
3.0
3.4
3.3
3.2
2.7
2.4
2.4
2.5
2.6
2.3
2.1
1.1
-0.5
-2.3
-4.1
-4.7
-4.2
-2.7
-0.6
0.7
1.5
1.8
1.8
1.8
2.0
2.0
1.6
1.5
1.2
1.2
1.6
1.9
2.2
2.5
2.6
2.9
2.9
2.7
2.7

Figure 3 - Mortgage Interest rates

(%)

##

##

##

##

##

Floating rate
23346 MFMR
Jan-1964 Err:512
Feb-1964
Mar-1964
Apr-1964
May-1964
Jun-1964
Jul-1964
Aug-1964
Sep-1964
Oct-1964
Nov-1964
Dec-1964
Jan-1965
Feb-1965
Mar-1965
Apr-1965
May-1965
Jun-1965
Jul-1965
Aug-1965
Sep-1965
Oct-1965
Nov-1965
Dec-1965
Jan-1966
Feb-1966
Mar-1966
Apr-1966
May-1966
Jun-1966
Jul-1966
Aug-1966
Sep-1966
Oct-1966
Nov-1966
Dec-1966
Jan-1967
Feb-1967
Mar-1967
Apr-1967
May-1967
Jun-1967
Jul-1967
Aug-1967
Sep-1967
Oct-1967
Nov-1967
Dec-1967
Jan-1968
Feb-1968

Source: RBNZ

2 year fixed rate

MSE6_5
Err:512
5.7 Err:512
5.7 Err:512
5.8 Err:512
5.8 Err:512
5.7 Err:512
5.8 Err:512
5.8 Err:512
5.7 Err:512
5.8 Err:512
5.8 Err:512
5.8 Err:512
5.9 Err:512
5.8 Err:512
5.9 Err:512
5.9 Err:512
6 Err:512
5.9 Err:512
5.9 Err:512
6 Err:512
6 Err:512
6.1 Err:512
6.1 Err:512
6.5 Err:512
6.5 Err:512
6.3 Err:512
6.2 Err:512
6.2 Err:512
6.2 Err:512
6.3 Err:512
6.1 Err:512
6.3 Err:512
6.2 Err:512
6.3 Err:512
6.5 Err:512
6.4 Err:512
6.5 Err:512
6.4 Err:512
6.6 Err:512
6.4 Err:512
6.6 Err:512
6.5 Err:512
6.7 Err:512
6.5 Err:512
6.6 Err:512
6.6 Err:512
6.6 Err:512
6.7 Err:512
7 Err:512
6.9 Err:512

##

##

##

##

Mar-1968
Apr-1968
May-1968
Jun-1968
Jul-1968
Aug-1968
Sep-1968
Oct-1968
Nov-1968
Dec-1968
Jan-1969
Feb-1969
Mar-1969
Apr-1969
May-1969
Jun-1969
Jul-1969
Aug-1969
Sep-1969
Oct-1969
Nov-1969
Dec-1969
Jan-1970
Feb-1970
Mar-1970
Apr-1970
May-1970
Jun-1970
Jul-1970
Aug-1970
Sep-1970
Oct-1970
Nov-1970
Dec-1970
Jan-1971
Feb-1971
Mar-1971
Apr-1971
May-1971
Jun-1971
Jul-1971
Aug-1971
Sep-1971
Oct-1971
Nov-1971
Dec-1971
Jan-1972
Feb-1972
Mar-1972
Apr-1972
May-1972
Jun-1972
Jul-1972
Aug-1972

6.6 Err:512
6.6 Err:512
6.7 Err:512
6.8 Err:512
6.7 Err:512
6.7 Err:512
6.8 Err:512
6.7 Err:512
6.7 Err:512
6.8 Err:512
6.9 Err:512
6.8 Err:512
6.8 Err:512
6.8 Err:512
6.7 Err:512
6.8 Err:512
6.7 Err:512
6.7 Err:512
6.7 Err:512
6.8 Err:512
6.9 Err:512
6.8 Err:512
6.8 Err:512
6.8 Err:512
6.8 Err:512
6.8 Err:512
6.7 Err:512
6.7 Err:512
6.7 Err:512
6.8 Err:512
6.8 Err:512
6.9 Err:512
6.9 Err:512
6.9 Err:512
7.3 Err:512
7.1 Err:512
7.2 Err:512
7.2 Err:512
7.2 Err:512
7.3 Err:512
7.3 Err:512
7.2 Err:512
7.6 Err:512
7.4 Err:512
7.6 Err:512
7.5 Err:512
7.6 Err:512
7.5 Err:512
7.5 Err:512
7.5 Err:512
7.5 Err:512
7.6 Err:512
7.5 Err:512
7.6 Err:512

##

##

##

##

##

Sep-1972
Oct-1972
Nov-1972
Dec-1972
Jan-1973
Feb-1973
Mar-1973
Apr-1973
May-1973
Jun-1973
Jul-1973
Aug-1973
Sep-1973
Oct-1973
Nov-1973
Dec-1973
Jan-1974
Feb-1974
Mar-1974
Apr-1974
May-1974
Jun-1974
Jul-1974
Aug-1974
Sep-1974
Oct-1974
Nov-1974
Dec-1974
Jan-1975
Feb-1975
Mar-1975
Apr-1975
May-1975
Jun-1975
Jul-1975
Aug-1975
Sep-1975
Oct-1975
Nov-1975
Dec-1975
Jan-1976
Feb-1976
Mar-1976
Apr-1976
May-1976
Jun-1976
Jul-1976
Aug-1976
Sep-1976
Oct-1976
Nov-1976
Dec-1976
Jan-1977
Feb-1977

7.6 Err:512
8.1 Err:512
8.1 Err:512
8.2 Err:512
8.1 Err:512
8.2 Err:512
8.3 Err:512
8.1 Err:512
8.2 Err:512
8.1 Err:512
8 Err:512
8.2 Err:512
8.3 Err:512
8 Err:512
8.3 Err:512
8.3 Err:512
8.3 Err:512
8.4 Err:512
8.4 Err:512
8.5 Err:512
8.4 Err:512
8.5 Err:512
8.5 Err:512
8.6 Err:512
8.9 Err:512
9 Err:512
8.9 Err:512
9 Err:512
9.2 Err:512
9.4 Err:512
9.3 Err:512
9.4 Err:512
9.3 Err:512
9.3 Err:512
9.5 Err:512
9.6 Err:512
9.7 Err:512
9.7 Err:512
9.9 Err:512
9.7 Err:512
10 Err:512
10 Err:512
10 Err:512
10.1 Err:512
10.2 Err:512
10.2 Err:512
10.3 Err:512
10.6 Err:512
10.6 Err:512
10.6 Err:512
10.7 Err:512
10.7 Err:512
10.9 Err:512
10.9 Err:512

##

##

##

##

Mar-1977
Apr-1977
May-1977
Jun-1977
Jul-1977
Aug-1977
Sep-1977
Oct-1977
Nov-1977
Dec-1977
Jan-1978
Feb-1978
Mar-1978
Apr-1978
May-1978
Jun-1978
Jul-1978
Aug-1978
Sep-1978
Oct-1978
Nov-1978
Dec-1978
Jan-1979
Feb-1979
Mar-1979
Apr-1979
May-1979
Jun-1979
Jul-1979
Aug-1979
Sep-1979
Oct-1979
Nov-1979
Dec-1979
Jan-1980
Feb-1980
Mar-1980
Apr-1980
May-1980
Jun-1980
Jul-1980
Aug-1980
Sep-1980
Oct-1980
Nov-1980
Dec-1980
Jan-1981
Feb-1981
Mar-1981
Apr-1981
May-1981
Jun-1981
Jul-1981
Aug-1981

11.2 Err:512
11 Err:512
11.3 Err:512
11.2 Err:512
10.9 Err:512
11.1 Err:512
11 Err:512
11.1 Err:512
11.1 Err:512
11.4 Err:512
11.2 Err:512
11.2 Err:512
11.6 Err:512
11.8 Err:512
11.6 Err:512
11.7 Err:512
11.7 Err:512
11.9 Err:512
11.7 Err:512
11.8 Err:512
11.8 Err:512
12 Err:512
11.7 Err:512
12 Err:512
12 Err:512
12 Err:512
12 Err:512
12.1 Err:512
12.2 Err:512
12.3 Err:512
12.5 Err:512
12.5 Err:512
12.6 Err:512
13 Err:512
13 Err:512
13.1 Err:512
13.2 Err:512
13.4 Err:512
13.6 Err:512
13.8 Err:512
14 Err:512
14.1 Err:512
14.3 Err:512
14.6 Err:512
14.5 Err:512
14.8 Err:512
14.8 Err:512
14.8 Err:512
14.9 Err:512
15.2 Err:512
15.3 Err:512
15.4 Err:512
15.4 Err:512
15.6 Err:512

##

##

##

##

##

Sep-1981
Oct-1981
Nov-1981
Dec-1981
Jan-1982
Feb-1982
Mar-1982
Apr-1982
May-1982
Jun-1982
Jul-1982
Aug-1982
Sep-1982
Oct-1982
Nov-1982
Dec-1982
Jan-1983
Feb-1983
Mar-1983
Apr-1983
May-1983
Jun-1983
Jul-1983
Aug-1983
Sep-1983
Oct-1983
Nov-1983
Dec-1983
Jan-1984
Feb-1984
Mar-1984
Apr-1984
May-1984
Jun-1984
Jul-1984
Aug-1984
Sep-1984
Oct-1984
Nov-1984
Dec-1984
Jan-1985
Feb-1985
Mar-1985
Apr-1985
May-1985
Jun-1985
Jul-1985
Aug-1985
Sep-1985
Oct-1985
Nov-1985
Dec-1985
Jan-1986
Feb-1986

15.7 Err:512
15.6 Err:512
16 Err:512
16.1 Err:512
16.3 Err:512
16.4 Err:512
16.5 Err:512
16.2 Err:512
16.7 Err:512
16.5 Err:512
16.7 Err:512
17 Err:512
17.4 Err:512
17.3 Err:512
17.3 Err:512
17.3 Err:512
17.3 Err:512
17.3 Err:512
17.3 Err:512
17.4 Err:512
17.3 Err:512
17.3 Err:512
17.3 Err:512
17.1 Err:512
16.8 Err:512
16.5 Err:512
16 Err:512
15.4 Err:512
14.5 Err:512
14 Err:512
13.5 Err:512
13.1 Err:512
12.9 Err:512
12.9 Err:512
12.8 Err:512
13.1 Err:512
13.9 Err:512
15 Err:512
16 Err:512
16.4 Err:512
16.5 Err:512
16.6 Err:512
17 Err:512
17 Err:512
17.3 Err:512
17.5 Err:512
17.9 Err:512
18.3 Err:512
19 Err:512
18.9 Err:512
19.1 Err:512
18.9 Err:512
19.1 Err:512
20 Err:512

##

##

##

##

Mar-1986
Apr-1986
May-1986
Jun-1986
Jul-1986
Aug-1986
Sep-1986
Oct-1986
Nov-1986
Dec-1986
Jan-1987
Feb-1987
Mar-1987
Apr-1987
May-1987
Jun-1987
Jul-1987
Aug-1987
Sep-1987
Oct-1987
Nov-1987
Dec-1987
Jan-1988
Feb-1988
Mar-1988
Apr-1988
May-1988
Jun-1988
Jul-1988
Aug-1988
Sep-1988
Oct-1988
Nov-1988
Dec-1988
Jan-1989
Feb-1989
Mar-1989
Apr-1989
May-1989
Jun-1989
Jul-1989
Aug-1989
Sep-1989
Oct-1989
Nov-1989
Dec-1989
Jan-1990
Feb-1990
Mar-1990
Apr-1990
May-1990
Jun-1990
Jul-1990
Aug-1990

19.2 Err:512
19.9 Err:512
19.5 Err:512
19.9 Err:512
19.3 Err:512
19.1 Err:512
18.3 Err:512
17.7 Err:512
17.5 Err:512
18 Err:512
18.5 Err:512
19.2 Err:512
19.6 Err:512
20.2 Err:512
20.4 Err:512
20.5 Err:512
20.3 Err:512
20.1 Err:512
20 Err:512
20.2 Err:512
19.8 Err:512
19.4 Err:512
19.4 Err:512
18.4 Err:512
17.9 Err:512
17.5 Err:512
16.9 Err:512
16.6 Err:512
16.6 Err:512
15.6 Err:512
15.5 Err:512
15.5 Err:512
15.5 Err:512
15.7 Err:512
15.7 Err:512
15.5 Err:512
15.4 Err:512
15.3 Err:512
15.2 Err:512
15.2 Err:512
15.2 Err:512
14.9 Err:512
14.9 Err:512
14.8 Err:512
14.8 Err:512
14.8 Err:512
14.8 Err:512
14.8 Err:512
14.9 Err:512
14.9 Err:512
14.9 Err:512
14.9 Err:512
14.9 Err:512
15.3 Err:512

##

##

##

##

##

Sep-1990
Oct-1990
Nov-1990
Dec-1990
Jan-1991
Feb-1991
Mar-1991
Apr-1991
May-1991
Jun-1991
Jul-1991
Aug-1991
Sep-1991
Oct-1991
Nov-1991
Dec-1991
Jan-1992
Feb-1992
Mar-1992
Apr-1992
May-1992
Jun-1992
Jul-1992
Aug-1992
Sep-1992
Oct-1992
Nov-1992
Dec-1992
Jan-1993
Feb-1993
Mar-1993
Apr-1993
May-1993
Jun-1993
Jul-1993
Aug-1993
Sep-1993
Oct-1993
Nov-1993
Dec-1993
Jan-1994
Feb-1994
Mar-1994
Apr-1994
May-1994
Jun-1994
Jul-1994
Aug-1994
Sep-1994
Oct-1994
Nov-1994
Dec-1994
Jan-1995
Feb-1995

15.4 Err:512
15.4 Err:512
15.4 Err:512
15.2 Err:512
14.7 Err:512
14 Err:512
13.7 Err:512
13.5 Err:512
12.8 Err:512
12.6 Err:512
12.4 Err:512
12.3 Err:512
11.8 Err:512
11.3 Err:512
11.3 Err:512
11.3 Err:512
11.1 Err:512
10.7 Err:512
10.4 Err:512
10.2 Err:512
9.9 Err:512
9.9 Err:512
9.6 Err:512
9.5 Err:512
9.5 Err:512
9.1 Err:512
8.9 Err:512
8.9 Err:512
9.4 Err:512
9.6 Err:512
9.6 Err:512
9.7 Err:512
9.1 Err:512
8.9 Err:512
8.5 Err:512
8.4 Err:512
7.9 Err:512
7.8 Err:512
7.8 Err:512
7.8 Err:512
7.7 Err:512
7.4 Err:512
7.4 Err:512
7.9 Err:512
7.9 Err:512
7.9 Err:512
8.4 Err:512
8.8 Err:512
8.8 Err:512
9.2 Err:512
9.5 Err:512
10.2 Err:512
11 Err:512
11 Err:512

##

##

##

Mar-1995
Apr-1995
May-1995
Jun-1995
Jul-1995
Aug-1995
Sep-1995
Oct-1995
Nov-1995
Dec-1995
Jan-1996
Feb-1996
Mar-1996
Apr-1996
May-1996
Jun-1996
Jul-1996
Aug-1996
Sep-1996
Oct-1996
Nov-1996
Dec-1996
Jan-1997
Feb-1997
Mar-1997
Apr-1997
May-1997
Jun-1997
Jul-1997
Aug-1997
Sep-1997
Oct-1997
Nov-1997
Dec-1997
Jan-1998
Feb-1998
Mar-1998
Apr-1998
May-1998
Jun-1998
Jul-1998
Aug-1998
Sep-1998
Oct-1998
Nov-1998
Dec-1998
Jan-1999
Feb-1999
Mar-1999
Apr-1999
May-1999
Jun-1999
Jul-1999
Aug-1999

11 Err:512
11 Err:512
11 Err:512
11 Err:512
10.6 Err:512
10.6 Err:512
10.9 Err:512
10.6 Err:512
10.5 Err:512
10.4 Err:512
10.4 Err:512
10.4 Err:512
10.4 Err:512
10.6 Err:512
10.8 Err:512
11.5 Err:512
11.5 Err:512
11.5 Err:512
11.5 Err:512
11.1 Err:512
10.9 Err:512
10.1 Err:512
10 Err:512
10 Err:512
10 Err:512
9.6 Err:512
9.4 Err:512
9.1 Err:512
9.6 Err:512
10.4 Err:512
10.1 Err:512
9.9 Err:512
9.9 Err:512
9.9 Err:512
10.5 Err:512
10.5 Err:512
11.1 Err:512
11.2 Err:512
11.2 Err:512
11.2
10
8.9
8.1
7.2
6.6
6.5
6.4
6.4
6.4
6.4
6.4
6.4
6.4
6.4

9.8
9
8.3
7.9
7.2
7
6.9
6.9
6.8
6.7
6.7
6.8
7.1
7.1
7.7

Sep-1999
Oct-1999
Nov-1999
Dec-1999
Jan-2000
Feb-2000
Mar-2000
Apr-2000
May-2000
Jun-2000
Jul-2000
Aug-2000
Sep-2000
Oct-2000
Nov-2000
Dec-2000
Jan-2001
Feb-2001
Mar-2001
Apr-2001
May-2001
Jun-2001
Jul-2001
Aug-2001
Sep-2001
Oct-2001
Nov-2001
Dec-2001
Jan-2002
Feb-2002
Mar-2002
Apr-2002
May-2002
Jun-2002
Jul-2002
Aug-2002
Sep-2002
Oct-2002
Nov-2002
Dec-2002
Jan-2003
Feb-2003
Mar-2003
Apr-2003
May-2003
Jun-2003
Jul-2003
Aug-2003
Sep-2003
Oct-2003
Nov-2003
Dec-2003
Jan-2004
Feb-2004

6.5
6.6
6.6
7
7.5
7.5
8
8
8.5
8.7
8.7
8.6
8.4
8.4
8.4
8.4
8.3
8.3
8.2
7.9
7.6
7.6
7.6
7.6
7.2
7.1
6.7
6.6
6.6
6.6
7.1
7.4
7.6
7.7
7.9
7.8
7.8
7.8
7.8
7.8
7.7
7.7
7.7
7.6
7.5
7.3
7.2
7
7
7
7.1
7.1
7.2
7.4

7.8
7.9
8
8.3
8.5
8.7
8.6
8.6
8.7
8.5
8.4
8.3
8.2
8.1
8.1
7.9
7.4
7.2
7
7.2
7.2
7.4
7.6
7.5
7
6.7
6.6
6.9
7
7.1
7.8
7.9
7.9
7.9
7.6
7.4
7.3
7.1
7.1
7.2
7.2
6.9
6.9
6.8
6.4
6.2
6.2
6.9
6.8
7.1
7.4
7.4
7.4
7

Mar-2004
Apr-2004
May-2004
Jun-2004
Jul-2004
Aug-2004
Sep-2004
Oct-2004
Nov-2004
Dec-2004
Jan-2005
Feb-2005
Mar-2005
Apr-2005
May-2005
Jun-2005
Jul-2005
Aug-2005
Sep-2005
Oct-2005
Nov-2005
Dec-2005
Jan-2006
Feb-2006
Mar-2006
Apr-2006
May-2006
Jun-2006
Jul-2006
Aug-2006
Sep-2006
Oct-2006
Nov-2006
Dec-2006
Jan-2007
Feb-2007
Mar-2007
Apr-2007
May-2007
Jun-2007
Jul-2007
Aug-2007
Sep-2007
Oct-2007
Nov-2007
Dec-2007
Jan-2008
Feb-2008
Mar-2008
Apr-2008
May-2008
Jun-2008
Jul-2008
Aug-2008

7.5
7.5
7.7
7.9
7.9
8.2
8.5
8.5
8.7
8.7
8.7
8.7
8.9
8.9
8.9
8.9
8.9
8.9
8.9
9
9.2
9.5
9.5
9.5
9.5
9.5
9.5
9.5
9.5
9.5
9.5
9.5
9.5
9.5
9.5
9.5
9.7
9.7
9.9
10.1
10.2
10.4
10.4
10.4
10.4
10.4
10.4
10.5
10.6
10.6
10.7
10.7
10.7
10.7

6.8
6.9
7.3
7.6
7.7
7.7
7.6
7.4
7.1
7.6
7.6
7.7
7.7
7.8
7.7
7.6
7.6
7.6
7.7
7.9
8.2
8.3
8.1
8
7.8
7.8
7.9
8
8.2
8.1
8
8.1
8.1
8.2
8.2
8.4
8.7
8.8
8.8
9.2
9.2
9.2
9.1
9.1
9.3
9.4
9.5
9.6
9.6
9.6
9.3
9.2
9
9

Sep-2008
Oct-2008
Nov-2008
Dec-2008
Jan-2009
Feb-2009
Mar-2009
Apr-2009
May-2009
Jun-2009
Jul-2009
Aug-2009
Sep-2009
Oct-2009
Nov-2009
Dec-2009
Jan-2010
Feb-2010
Mar-2010
Apr-2010
May-2010
Jun-2010
Jul-2010
Aug-2010
Sep-2010
Oct-2010
Nov-2010
Dec-2010
Jan-2011
Feb-2011
Mar-2011
Apr-2011
May-2011
Jun-2011
Jul-2011
Aug-2011
Sep-2011
Oct-2011
Nov-2011
Dec-2011
Jan-2012
Feb-2012
Mar-2012
Apr-2012
May-2012
Jun-2012
Jul-2012
Aug-2012
Sep-2012
Oct-2012
Nov-2012
Dec-2012
Jan-2013
Feb-2013

10.3
9.6
8.8
7.9
7.2
6.7
6.4
6.4
6.4
6.4
6.4
6.3
6.2
6.2
6.1
6.1
6.1
6
6
6
6
6.1
6.1
6.4
6.3
6.3
6.3
6.3
6.3
6.3
5.9
5.9
5.9
5.9
5.9
5.9
5.9
5.9
5.8
5.9
5.9
5.9
5.9
5.8
5.8
5.8
5.8
5.8
5.8
5.8
5.8
5.8
5.8
5.8

8.6
8.2
7.5
7.1
6.3
5.9
6.2
6.2
6.2
6.3
6.3
6.5
6.6
7.1
7.1
7.2
7.2
7.2
7.2
7.1
7.2
7.1
6.9
6.8
6.7
6.7
6.7
6.7
6.7
6.6
6.4
6.4
6.4
6.4
6.4
6.4
6.3
6.2
6
5.9
5.9
5.8
5.8
5.8
5.6
5.6
5.6
5.5
5.5
5.4
5.4
5.5
5.5
5.5

Mar-2013
Apr-2013
May-2013
Jun-2013
Jul-2013
Aug-2013
Sep-2013
Oct-2013
Nov-2013
Dec-2013
Jan-2014
Feb-2014
Mar-2014
Apr-2014
May-2014
Jun-2014
Jul-2014
Aug-2014
Sep-2014
Oct-2014
Nov-2014
Dec-2014
Jan-2015
Feb-2015
Mar-2015
Apr-2015
May-2015
Jun-2015
Jul-2015
Aug-2015
Sep-2015
Oct-2015
Nov-2015
Dec-2015
Jan-2016

5.8
5.8
5.8
5.8
5.8
5.8
5.8
5.8
5.8
5.8
5.8
5.8
6.0
6.1
6.2
6.3
6.5
6.6
6.6
6.6
6.6
6.6
6.6
6.6
6.6
6.6
6.6
6.4
6.2
6.1
6.0
6.0
6.0
5.9
5.8

5.5
5.5
5.5
5.5
5.7
5.8
5.8
5.8
5.9
6.0
6.1
6.0
6.2
6.3
6.2
6.2
6.3
6.3
6.3
6.3
6.2
6.2
6.1
6.0
6.0
5.9
5.8
5.6
5.6
5.4
5.3
5.3
5.3
5.2
5.2

Figure 4 - Value of housing stock and house prices

$billion, A%
For additional data see
[Link]

Value of housing, $billion

1979 Q 4
1980 Q 1
1980 Q 2
1980 Q 3
1980 Q 4
1981 Q 1
1981 Q 2
1981 Q 3
1981 Q 4
1982 Q 1
1982 Q 2
1982 Q 3
1982 Q 4
1983 Q 1
1983 Q 2
1983 Q 3
1983 Q 4
1984 Q 1
1984 Q 2
1984 Q 3
1984 Q 4
1985 Q 1
1985 Q 2
1985 Q 3
1985 Q 4
1986 Q 1
1986 Q 2
1986 Q 3
1986 Q 4
1987 Q 1
1987 Q 2
1987 Q 3
1987 Q 4
1988 Q 1
1988 Q 2
1988 Q 3
1988 Q 4
1989 Q 1
1989 Q 2
1989 Q 3
1989 Q 4
1990 Q 1
1990 Q 2
1990 Q 3
1990 Q 4
1991 Q 1
1991 Q 2

25
25
26
27
28
30
32
35
38
42
45
47
48
49
50
51
53
56
58
60
62
64
67
70
73
75
76
79
81
86
90
95
100
104
107
108
109
113
114
117
120
123
125
126
126
124
123

1991 Q 3
1991 Q 4
1992 Q 1
1992 Q 2
1992 Q 3
1992 Q 4
1993 Q 1
1993 Q 2
1993 Q 3
1993 Q 4
1994 Q 1
1994 Q 2
1994 Q 3
1994 Q 4
1995 Q 1
1995 Q 2
1995 Q 3
1995 Q 4
1996 Q 1
1996 Q 2
1996 Q 3
1996 Q 4
1997 Q 1
1997 Q 2
1997 Q 3
1997 Q 4
1998 Q 1
1998 Q 2
1998 Q 3
1998 Q 4
1999 Q 1
1999 Q 2
1999 Q 3
1999 Q 4
2000 Q 1
2000 Q 2
2000 Q 3
2000 Q 4
2001 Q 1
2001 Q 2
2001 Q 3
2001 Q 4
2002 Q 1
2002 Q 2
2002 Q 3
2002 Q 4
2003 Q 1
2003 Q 2
2003 Q 3
2003 Q 4
2004 Q 1
2004 Q 2
2004 Q 3
2004 Q 4

125
125
125
127
128
129
131
133
136
140
148
154
160
164
168
172
177
183
192
196
197
201
209
215
218
221
220
218
219
221
223
226
227
227
229
229
232
232
236
238
241
246
255
260
270
282
298
312
339
370
387
396
413
429

2005 Q 1
2005 Q 2
2005 Q 3
2005 Q 4
2006 Q 1
2006 Q 2
2006 Q 3
2006 Q 4
2007 Q 1
2007 Q 2
2007 Q 3
2007 Q 4
2008 Q 1
2008 Q 2
2008 Q 3
2008 Q 4
2009 Q 1
2009 Q 2
2009 Q 3
2009 Q 4
2010 Q 1
2010 Q 2
2010 Q 3
2010 Q 4
2011 Q 1
2011 Q 2
2011 Q 3
2011 Q 4
2012 Q 1
2012 Q 2
2012 Q3
2012 Q 4
2013 Q1
2013 Q2
2013 Q3
2013 Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3

452
468
484
506
520
525
538
559
587
605
611
614
616
592
582
568
568
578
594
606
609
603
601
602
605
602
613
615
621
630
642
655
672
689
708
719
725
736
745
768
791
821
862

The RBNZ redisseminated this new official series, and the recalculated prior linked period for the index, on 4 August 2007.
The annual percentage changes presented here are based on the indexed series, available in the "house price data" - see link above.
Last updated 11 January 2016

Source: Quotable Value Limited, RBNZ estimates

Official QV data (less 3% for public sector dwellings

Percentages calculated from official QV data
RBNZ estimates/ percentages calculated from RBNZ
House prices - RBNZ linked all residential HPI series, A%
UN
UN
UN
UN
12.3
14.5
20.5
25.5
31.6
37.1
36.9
30.1
23.0
14.9
8.0
8.2
9.3
11.6
13.2
13.6
13.0
13.0
13.6
14.8
15.2
13.5
10.8
9.1
7.9
11.8
15.8
18.8
21.7
18.5
16.1
11.4
7.2
6.8
4.8
6.1
7.3
6.9
7.0
5.2
2.8
-1.1
-3.2

-2.5
-2.5
-1.2
1.3
1.1
1.7
3.3
2.8
4.1
6.3
11.1
13.8
15.0
14.6
10.6
8.9
8.6
9.3
12.2
12.0
9.1
8.0
6.8
6.3
6.5
4.9
0.2
-2.5
-2.6
-2.1
0.5
3.4
3.2
1.6
0.4
-1.0
-0.8
-0.3
0.4
1.1
1.9
4.0
6.7
8.9
11.2
13.9
15.9
17.1
20.9
24.0
21.7
19.5
15.9
11.6

13.7
14.7
14.2
15.4
12.3
10.4
9.9
9.6
11.2
13.4
11.4
7.7
2.7
-4.5
-6.7
-9.0
-9.1
-3.1
1.1
5.4
6.3
3.1
0.2
-1.6
-1.2
0.8
2.6
2.8
3.2
4.0
4.8
6.9
7.7
9.0
10.2
9.2
7.9
7.1
4.8
6.3
9.1
11.3
15.1

al series, and the recalculated prior linked period for the index, on 4 August 2007.
ere are based on the indexed series, available in the "house price data" - see link above.

ed, RBNZ estimates

less 3% for public sector dwellings prior to December 2004, actual value thereafter)
ated from official QV data
percentages calculated from RBNZ estimates

Figure 5 - Household debt

% disposable income; rate %

1991Q1
1991Q2
1991Q3
1991Q4
1992Q1
1992Q2
1992Q3
1992Q4
1993Q1
1993Q2
1993Q3
1993Q4
1994Q1
1994Q2
1994Q3
1994Q4
1995Q1
1995Q2
1995Q3
1995Q4
1996Q1
1996Q2
1996Q3
1996Q4
1997Q1
1997Q2
1997Q3
1997Q4
1998Q1
1998Q2
1998Q3
1998Q4
1999Q1
1999Q2
1999Q3
1999Q4
2000Q1
2000Q2
2000Q3
2000Q4
2001Q1
2001Q2
2001Q3
2001Q4
2002Q1
2002Q2
2002Q3
2002Q4
2003Q1
2003Q2

Household claims as % nominal disposable income

56.2
56.7
57.3
59.7
59.9
61.4
63.1
66.3
66.7
68.6
70.1
72.8
73.2
75.1
76.4
78.5
78.1
79.9
80.9
83.3
83.6
85.7
85.8
88.1
89.1
91
92.8
96.5
96.8
97.8
97.8
100.4
100.7
101.5
101.5
102.1
102.6
104.8
106.6
109.3
110.6
112.4
112.2
112.9
113.6
116.9
118.8
122
124.4
127

2003Q3
2003Q4
2004Q1
2004Q2
2004Q3
2004Q4
2005Q1
2005Q2
2005Q3
2005Q4
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3

128.6
131
132
133.9
134.9
137.6
139.9
143.2
145.8
149.0
150.9
153.3
154.0
155.5
156.8
158.5
158.2
159.0
159.7
159.6
159.7
159.7
160.1
161.2
161.1
160.8
160.0
159.1
157.0
155.0
153.5
153.1
152.0
151.1
150.8
151.4
151.1
151.5
151.9
153.3
154.0
154.9
155.9
155.5
154.6
154.5
155.3
157.1
158.9

Source: RBNZ

Interest rate %
15.6
14.3
13.4
12.4
12
11.1
10.6
10.1
10.2
10.4
9.5
8.8
8.6
8.7
9.2
9.9
11.1
11.5
11.3
11.3
11.1
11.2
11.6
11.4
10.8
10.4
10.3
10.4
10.4
10.7
10.2
8.9
8.4
8.1
8
8.1
8.4
8.9
9.1
9.1
9.1
8.7
8.5
8.2
7.9
8.2
8.4
8.4
8.3
8.2

Servicing as % nominal disposable income

8.9
8.1
7.8
7.5
7.4
7.1
6.9
6.7
6.9
7.1
6.6
6.2
6.1
6.3
6.8
7.4
8.4
8.8
8.7
8.9
8.9
9.1
9.5
9.5
9.2
9
9
9.2
9.4
9.8
9.4
8.4
7.8
7.6
7.6
7.7
8.2
8.9
9.4
9.5
9.4
9.1
8.8
8.6
8.4
8.9
9.4
9.5
9.6
9.4

7.8
7.7
7.85
7.9
8.1
8.2
8.3
8.4
8.4
8.5
8.6
8.6
8.6
8.7
8.7
8.8
9.0
9.1
9.2
9.4
9.5
9.3
8.7
8.1
7.8
7.4
7.3
7.2
7.2
7.2
7.1
6.8
6.8
6.7
6.6
6.5
6.4
6.3
6.2
6.1
6.1
6.1
6.1
6.3
6.5
6.6
6.6
6.5
6.3

9.1
9.2
9.5
9.6
10
10.4
10.7
11.1
11.4
11.7
12.0
12.1
12.2
12.4
12.6
12.7
13.0
13.4
13.7
14.1
14.3
14.0
13.1
12.3
11.6
11.1
10.8
10.5
10.4
10.3
10.1
9.7
9.6
9.4
9.3
9.1
8.9
8.8
8.7
8.7
8.7
8.7
8.7
8.9
9.2
9.3
9.4
9.5
9.3

Figure 6 - Current account balance

% GDP

1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015

-3
-0.7
0.6
1.4
-11.8
-10.1
-7
-5.7
-2.8
-3.5
-4.3
-4.9
-7.2
-4.3
-8.9
-7.3
-6.4
-4.8
-0.3
-3
-2.9
-2.4
-3.7
-3.3
-3.2
-4
-4.8
-5.2
-2.8
-5.1
-3.4
-0.8
-2.1
-2.5
-4.6
-7.1
-7.2
-6.9
-7.8
-2.2
-2.3
-2.8
-4
-3.2
-3.1
-3.3

Source: Statistics NZ

Figure 7 - 90 day rates

% (weekly averages)
90-day rate
1/19/1990
1/26/1990
2/2/1990
2/9/1990
2/16/1990
2/23/1990
3/2/1990
3/9/1990
3/16/1990
3/23/1990
3/30/1990
4/6/1990
4/13/1990
4/20/1990
4/27/1990
5/4/1990
5/11/1990
5/18/1990
5/25/1990
6/1/1990
6/8/1990
6/15/1990
6/22/1990
6/29/1990
7/6/1990
7/13/1990
7/20/1990
7/27/1990
8/3/1990
8/10/1990
8/17/1990
8/24/1990
8/31/1990
9/7/1990
9/14/1990
9/21/1990
9/28/1990
10/5/1990
10/12/1990
10/19/1990
10/26/1990
11/2/1990
11/9/1990
11/16/1990
11/23/1990
11/30/1990
12/7/1990
12/14/1990
12/21/1990
12/28/1990

OCR
13.86 Err:512
13.75 Err:512
13.81 Err:512
13.77 Err:512
13.82 Err:512
13.85 Err:512
13.84 Err:512
13.74 Err:512
13.7 Err:512
13.63 Err:512
13.66 Err:512
13.57 Err:512
13.62 Err:512
13.58 Err:512
13.6 Err:512
13.52 Err:512
13.47 Err:512
13.44 Err:512
13.4 Err:512
13.66 Err:512
13.82 Err:512
13.82 Err:512
13.81 Err:512
13.81 Err:512
13.77 Err:512
13.72 Err:512
13.71 Err:512
13.76 Err:512
13.95 Err:512
14.38 Err:512
14.5 Err:512
14.61 Err:512
14.72 Err:512
14.8 Err:512
14.81 Err:512
14.51 Err:512
14.4 Err:512
14.41 Err:512
14.57 Err:512
14.78 Err:512
14.52 Err:512
14.28 Err:512
14.5 Err:512
13.93 Err:512
13.78 Err:512
13.55 Err:512
13.35 Err:512
13.13 Err:512
12.94 Err:512
12.6 Err:512

Source: RBNZ

1/4/1991
1/11/1991
1/18/1991
1/25/1991
2/1/1991
2/8/1991
2/15/1991
2/22/1991
3/1/1991
3/8/1991
3/15/1991
3/22/1991
3/29/1991
4/5/1991
4/12/1991
4/19/1991
4/26/1991
5/3/1991
5/10/1991
5/17/1991
5/24/1991
5/31/1991
6/7/1991
6/14/1991
6/21/1991
6/28/1991
7/5/1991
7/12/1991
7/19/1991
7/26/1991
8/2/1991
8/9/1991
8/16/1991
8/23/1991
8/30/1991
9/6/1991
9/13/1991
9/20/1991
9/27/1991
10/4/1991
10/11/1991
10/18/1991
10/25/1991
11/1/1991
11/8/1991
11/15/1991
11/22/1991
11/29/1991
12/6/1991
12/13/1991
12/20/1991
12/27/1991
1/3/1992
1/10/1992

12.6 Err:512
12.26 Err:512
12.68 Err:512
12.29 Err:512
12.13 Err:512
11.89 Err:512
11.86 Err:512
11.97 Err:512
12.07 Err:512
12 Err:512
11.99 Err:512
11.87 Err:512
11.9 Err:512
11.76 Err:512
11.78 Err:512
11.33 Err:512
10.79 Err:512
10.49 Err:512
10.3 Err:512
10.06 Err:512
9.82 Err:512
9.92 Err:512
9.8 Err:512
9.83 Err:512
9.9 Err:512
9.86 Err:512
9.64 Err:512
9.56 Err:512
9.71 Err:512
9.74 Err:512
9.54 Err:512
9.43 Err:512
9.46 Err:512
9.44 Err:512
9.4 Err:512
9.29 Err:512
9.18 Err:512
8.97 Err:512
8.35 Err:512
7.84 Err:512
8.07 Err:512
8.07 Err:512
8.08 Err:512
8.1 Err:512
8.04 Err:512
8.31 Err:512
8.22 Err:512
8.18 Err:512
8.04 Err:512
8.02 Err:512
7.74 Err:512
7.5 Err:512
7.58 Err:512
7.5 Err:512

1/17/1992
1/24/1992
1/31/1992
2/7/1992
2/14/1992
2/21/1992
2/28/1992
3/6/1992
3/13/1992
3/20/1992
3/27/1992
4/3/1992
4/10/1992
4/17/1992
4/24/1992
5/1/1992
5/8/1992
5/15/1992
5/22/1992
5/29/1992
6/5/1992
6/12/1992
6/19/1992
6/26/1992
7/3/1992
7/10/1992
7/17/1992
7/24/1992
7/31/1992
8/7/1992
8/14/1992
8/21/1992
8/28/1992
9/4/1992
9/11/1992
9/18/1992
9/25/1992
10/2/1992
10/9/1992
10/16/1992
10/23/1992
10/30/1992
11/6/1992
11/13/1992
11/20/1992
11/27/1992
12/4/1992
12/11/1992
12/18/1992
12/25/1992
1/1/1993
1/8/1993
1/15/1993
1/22/1993

7.46 Err:512
7.35 Err:512
7.39 Err:512
7.43 Err:512
7.47 Err:512
7.5 Err:512
7.5 Err:512
7.45 Err:512
7.39 Err:512
7.32 Err:512
7.24 Err:512
7.24 Err:512
7.19 Err:512
7.07 Err:512
6.96 Err:512
6.89 Err:512
6.83 Err:512
6.74 Err:512
6.89 Err:512
6.85 Err:512
6.91 Err:512
6.81 Err:512
6.77 Err:512
6.66 Err:512
6.57 Err:512
6.24 Err:512
6.08 Err:512
6.12 Err:512
6.09 Err:512
6.1 Err:512
6.09 Err:512
6.14 Err:512
6.21 Err:512
6.28 Err:512
6.19 Err:512
6.15 Err:512
6.32 Err:512
6.41 Err:512
6.28 Err:512
6.19 Err:512
6.16 Err:512
6.19 Err:512
6.2 Err:512
6.12 Err:512
6.13 Err:512
6.17 Err:512
6.33 Err:512
6.38 Err:512
6.78 Err:512
7.55 Err:512
7.58 Err:512
8.3 Err:512
7.57 Err:512
7.85 Err:512

1/29/1993
2/5/1993
2/12/1993
2/19/1993
2/26/1993
3/5/1993
3/12/1993
3/19/1993
3/26/1993
4/2/1993
4/9/1993
4/16/1993
4/23/1993
4/30/1993
5/7/1993
5/14/1993
5/21/1993
5/28/1993
6/4/1993
6/11/1993
6/18/1993
6/25/1993
7/2/1993
7/9/1993
7/16/1993
7/23/1993
7/30/1993
8/6/1993
8/13/1993
8/20/1993
8/27/1993
9/3/1993
9/10/1993
9/17/1993
9/24/1993
10/1/1993
10/8/1993
10/15/1993
10/22/1993
10/29/1993
11/5/1993
11/12/1993
11/19/1993
11/26/1993
12/3/1993
12/10/1993
12/17/1993
12/24/1993
12/31/1993
1/7/1994
1/14/1994
1/21/1994
1/28/1994
2/4/1994

7.85 Err:512
7.29 Err:512
7.51 Err:512
7.59 Err:512
7.72 Err:512
7.27 Err:512
7.34 Err:512
7.21 Err:512
7.18 Err:512
7.23 Err:512
7.31 Err:512
7.16 Err:512
7.14 Err:512
6.94 Err:512
6.83 Err:512
6.58 Err:512
6.5 Err:512
6.44 Err:512
6.45 Err:512
6.58 Err:512
6.38 Err:512
6.38 Err:512
6.27 Err:512
5.79 Err:512
5.64 Err:512
5.64 Err:512
5.53 Err:512
5.68 Err:512
5.7 Err:512
5.65 Err:512
5.52 Err:512
5.44 Err:512
5.4 Err:512
5.18 Err:512
5.24 Err:512
5.32 Err:512
5.48 Err:512
5.58 Err:512
5.47 Err:512
5.24 Err:512
5.17 Err:512
6.24 Err:512
6.16 Err:512
5.81 Err:512
5.87 Err:512
5.63 Err:512
5.14 Err:512
4.78 Err:512
4.97 Err:512
4.75 Err:512
4.79 Err:512
4.7 Err:512
4.47 Err:512
4.52 Err:512

2/11/1994
2/18/1994
2/25/1994
3/4/1994
3/11/1994
3/18/1994
3/25/1994
4/1/1994
4/8/1994
4/15/1994
4/22/1994
4/29/1994
5/6/1994
5/13/1994
5/20/1994
5/27/1994
6/3/1994
6/10/1994
6/17/1994
6/24/1994
7/1/1994
7/8/1994
7/15/1994
7/22/1994
7/29/1994
8/5/1994
8/12/1994
8/19/1994
8/26/1994
9/2/1994
9/9/1994
9/16/1994
9/23/1994
9/30/1994
10/7/1994
10/14/1994
10/21/1994
10/28/1994
11/4/1994
11/11/1994
11/18/1994
11/25/1994
12/2/1994
12/9/1994
12/16/1994
12/23/1994
12/30/1994
1/6/1995
1/13/1995
1/20/1995
1/27/1995
2/3/1995
2/10/1995
2/17/1995

4.47 Err:512
4.62 Err:512
4.84 Err:512
5.13 Err:512
5.31 Err:512
5.18 Err:512
5.52 Err:512
6.19 Err:512
6.34 Err:512
6.26 Err:512
6.7 Err:512
6.34 Err:512
6.27 Err:512
6.16 Err:512
5.86 Err:512
5.81 Err:512
5.61 Err:512
5.61 Err:512
5.78 Err:512
6.23 Err:512
7.07 Err:512
7.21 Err:512
7.09 Err:512
7.06 Err:512
6.95 Err:512
6.87 Err:512
7.1 Err:512
7.12 Err:512
7.18 Err:512
6.99 Err:512
7.3 Err:512
7.43 Err:512
7.71 Err:512
7.74 Err:512
7.75 Err:512
7.91 Err:512
8.15 Err:512
8.23 Err:512
8.35 Err:512
8.36 Err:512
8.36 Err:512
8.48 Err:512
9.14 Err:512
9.71 Err:512
9.53 Err:512
9.46 Err:512
9.32 Err:512
9.51 Err:512
9.38 Err:512
9.21 Err:512
9.19 Err:512
9.2 Err:512
9.29 Err:512
9.3 Err:512

2/24/1995
3/3/1995
3/10/1995
3/17/1995
3/24/1995
3/31/1995
4/7/1995
4/14/1995
4/21/1995
4/28/1995
5/5/1995
5/12/1995
5/19/1995
5/26/1995
6/2/1995
6/9/1995
6/16/1995
6/23/1995
6/30/1995
7/7/1995
7/14/1995
7/21/1995
7/28/1995
8/4/1995
8/11/1995
8/18/1995
8/25/1995
9/1/1995
9/8/1995
9/15/1995
9/22/1995
9/29/1995
10/6/1995
10/13/1995
10/20/1995
10/27/1995
11/3/1995
11/10/1995
11/17/1995
11/24/1995
12/1/1995
12/8/1995
12/15/1995
12/22/1995
12/29/1995
1/5/1996
1/12/1996
1/19/1996
1/26/1996
2/2/1996
2/9/1996
2/16/1996
2/23/1996
3/1/1996

9.56 Err:512
9.39 Err:512
9.52 Err:512
9.41 Err:512
9.44 Err:512
9.35 Err:512
9.34 Err:512
9.22 Err:512
9.15 Err:512
9.13 Err:512
9.08 Err:512
9.07 Err:512
9.09 Err:512
9.14 Err:512
9.11 Err:512
9.05 Err:512
9.05 Err:512
9.04 Err:512
9.03 Err:512
9.01 Err:512
8.8 Err:512
8.73 Err:512
8.8 Err:512
8.87 Err:512
8.94 Err:512
8.95 Err:512
9.13 Err:512
9.33 Err:512
9.38 Err:512
9.26 Err:512
9.08 Err:512
9.13 Err:512
9.09 Err:512
8.91 Err:512
8.58 Err:512
8.31 Err:512
8.27 Err:512
8.28 Err:512
8.29 Err:512
8.35 Err:512
8.33 Err:512
8.32 Err:512
8.48 Err:512
8.79 Err:512
8.83 Err:512
8.71 Err:512
8.66 Err:512
8.62 Err:512
8.56 Err:512
8.48 Err:512
8.36 Err:512
8.38 Err:512
8.55 Err:512
8.81 Err:512

3/8/1996
3/15/1996
3/22/1996
3/29/1996
4/5/1996
4/12/1996
4/19/1996
4/26/1996
5/3/1996
5/10/1996
5/17/1996
5/24/1996
5/31/1996
6/7/1996
6/14/1996
6/21/1996
6/28/1996
7/5/1996
7/12/1996
7/19/1996
7/26/1996
8/2/1996
8/9/1996
8/16/1996
8/23/1996
8/30/1996
9/6/1996
9/13/1996
9/20/1996
9/27/1996
10/4/1996
10/11/1996
10/18/1996
10/25/1996
11/1/1996
11/8/1996
11/15/1996
11/22/1996
11/29/1996
12/6/1996
12/13/1996
12/20/1996
12/27/1996
1/3/1997
1/10/1997
1/17/1997
1/24/1997
1/31/1997
2/7/1997
2/14/1997
2/21/1997
2/28/1997
3/7/1997
3/14/1997

8.8 Err:512
8.85 Err:512
8.85 Err:512
8.98 Err:512
8.96 Err:512
9.17 Err:512
9.2 Err:512
9.4 Err:512
9.56 Err:512
9.73 Err:512
9.8 Err:512
9.93 Err:512
9.95 Err:512
9.89 Err:512
10.01 Err:512
10.02 Err:512
10.19 Err:512
10.2 Err:512
10.18 Err:512
10.11 Err:512
10.04 Err:512
9.97 Err:512
9.79 Err:512
9.9 Err:512
9.86 Err:512
9.94 Err:512
9.96 Err:512
9.9 Err:512
9.83 Err:512
9.89 Err:512
9.89 Err:512
9.99 Err:512
9.67 Err:512
9.33 Err:512
8.98 Err:512
8.99 Err:512
9.13 Err:512
8.95 Err:512
8.8 Err:512
8.38 Err:512
8.13 Err:512
7.95 Err:512
7.85 Err:512
7.9 Err:512
7.74 Err:512
7.49 Err:512
7.37 Err:512
7.51 Err:512
7.38 Err:512
7.49 Err:512
7.38 Err:512
7.58 Err:512
7.64 Err:512
7.53 Err:512

3/21/1997
3/28/1997
4/4/1997
4/11/1997
4/18/1997
4/25/1997
5/2/1997
5/9/1997
5/16/1997
5/23/1997
5/30/1997
6/6/1997
6/13/1997
6/20/1997
6/27/1997
7/4/1997
7/11/1997
7/18/1997
7/25/1997
8/1/1997
8/8/1997
8/15/1997
8/22/1997
8/29/1997
9/5/1997
9/12/1997
9/19/1997
9/26/1997
10/3/1997
10/10/1997
10/17/1997
10/24/1997
10/31/1997
11/7/1997
11/14/1997
11/21/1997
11/28/1997
12/5/1997
12/12/1997
12/19/1997
12/26/1997
1/2/1998
1/9/1998
1/16/1998
1/23/1998
1/30/1998
2/6/1998
2/13/1998
2/20/1998
2/27/1998
3/6/1998
3/13/1998
3/20/1998
3/27/1998

7.52 Err:512
7.63 Err:512
7.88 Err:512
7.74 Err:512
7.39 Err:512
7.22 Err:512
6.99 Err:512
6.79 Err:512
7.04 Err:512
7.23 Err:512
7.09 Err:512
6.95 Err:512
7.04 Err:512
6.89 Err:512
6.95 Err:512
6.98 Err:512
7.32 Err:512
7.76 Err:512
8.45 Err:512
8.38 Err:512
8.32 Err:512
8.45 Err:512
8.36 Err:512
8.22 Err:512
8.25 Err:512
8.25 Err:512
8.1 Err:512
7.72 Err:512
7.7 Err:512
7.7 Err:512
7.55 Err:512
7.83 Err:512
8.12 Err:512
7.85 Err:512
7.61 Err:512
7.5 Err:512
7.46 Err:512
7.51 Err:512
8.04 Err:512
8.64 Err:512
8.92 Err:512
8.9 Err:512
9.05 Err:512
8.91 Err:512
8.75 Err:512
8.82 Err:512
8.81 Err:512
8.96 Err:512
8.95 Err:512
9.06 Err:512
8.77 Err:512
8.7 Err:512
8.9 Err:512
9.35 Err:512

4/3/1998
4/10/1998
4/17/1998
4/24/1998
5/1/1998
5/8/1998
5/15/1998
5/22/1998
5/29/1998
6/5/1998
6/12/1998
6/19/1998
6/26/1998
7/3/1998
7/10/1998
7/17/1998
7/24/1998
7/31/1998
8/7/1998
8/14/1998
8/21/1998
8/28/1998
9/4/1998
9/11/1998
9/18/1998
9/25/1998
10/2/1998
10/9/1998
10/16/1998
10/23/1998
10/30/1998
11/6/1998
11/13/1998
11/20/1998
11/27/1998
12/4/1998
12/11/1998
12/18/1998
12/25/1998
1/1/1999
1/8/1999
1/15/1999
1/22/1999
1/29/1999
2/5/1999
2/12/1999
2/19/1999
2/26/1999
3/5/1999
3/12/1999
3/19/1999
3/26/1999
4/2/1999
4/9/1999

9.68 Err:512
9.62 Err:512
9.47 Err:512
8.84 Err:512
8.91 Err:512
8.96 Err:512
9.12 Err:512
8.85 Err:512
8.6 Err:512
8.49 Err:512
9.6 Err:512
9.53 Err:512
9.1 Err:512
8.2 Err:512
8.04 Err:512
7.73 Err:512
7.56 Err:512
7.51 Err:512
7.08 Err:512
7 Err:512
6.59 Err:512
6.57 Err:512
6.16 Err:512
5.84 Err:512
5.7 Err:512
5.79 Err:512
5.28 Err:512
5.19 Err:512
4.61 Err:512
4.73 Err:512
4.73 Err:512
4.63 Err:512
4.76 Err:512
4.42 Err:512
4.28 Err:512
4.12 Err:512
4.17 Err:512
4.26 Err:512
4.56 Err:512
5.05 Err:512
4.71 Err:512
4.68 Err:512
4.28 Err:512
4.23 Err:512
4.03 Err:512
4.25 Err:512
4.33 Err:512
4.58 Err:512
4.51 Err:512
4.51 Err:512
4.60
4.67
4.68
4.66

4.50
4.50
4.50
4.50

4/16/1999
4/23/1999
4/30/1999
5/7/1999
5/14/1999
5/21/1999
5/28/1999
6/4/1999
6/11/1999
6/18/1999
6/25/1999
7/2/1999
7/9/1999
7/16/1999
7/23/1999
7/30/1999
8/6/1999
8/13/1999
8/20/1999
8/27/1999
9/3/1999
9/10/1999
9/17/1999
9/24/1999
10/1/1999
10/8/1999
10/15/1999
10/22/1999
10/29/1999
11/5/1999
11/12/1999
11/19/1999
11/26/1999
12/3/1999
12/10/1999
12/17/1999
12/24/1999
12/31/1999
1/7/2000
1/14/2000
1/21/2000
1/28/2000
2/4/2000
2/11/2000
2/18/2000
2/25/2000
3/3/2000
3/10/2000
3/17/2000
3/24/2000
3/31/2000
4/7/2000
4/14/2000
4/21/2000

4.65
4.62
4.63
4.65
4.69
4.67
4.67
4.70
4.73
4.74
4.74
4.75
4.72
4.72
4.72
4.73
4.72
4.73
4.75
4.81
4.94
4.93
4.97
4.96
4.89
5.02
5.03
5.15
5.23
5.27
5.32
5.35
5.43
5.46
5.52
5.80
5.78
5.70
5.64
5.56
5.71
5.75
5.83
5.89
5.94
6.00
6.08
6.22
6.25
6.28
6.35
6.45
6.48
6.48

4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.75
5.75
5.75
5.75
5.75
6.00

4/28/2000
5/5/2000
5/12/2000
5/19/2000
5/26/2000
6/2/2000
6/9/2000
6/16/2000
6/23/2000
6/30/2000
7/7/2000
7/14/2000
7/21/2000
7/28/2000
8/4/2000
8/11/2000
8/18/2000
8/25/2000
9/1/2000
9/8/2000
9/15/2000
9/22/2000
9/29/2000
10/6/2000
10/13/2000
10/20/2000
10/27/2000
11/3/2000
11/10/2000
11/17/2000
11/24/2000
12/1/2000
12/8/2000
12/15/2000
12/22/2000
12/29/2000
1/5/2001
1/12/2001
1/19/2001
1/26/2001
2/2/2001
2/9/2001
2/16/2001
2/23/2001
3/2/2001
3/9/2001
3/16/2001
3/23/2001
3/30/2001
4/6/2001
4/13/2001
4/20/2001
4/27/2001
5/4/2001

6.60
6.65
6.69
6.81
6.88
6.88
6.86
6.89
6.91
6.87
6.84
6.83
6.82
6.82
6.82
6.76
6.74
6.69
6.68
6.67
6.65
6.66
6.64
6.67
6.65
6.66
6.63
6.64
6.64
6.64
6.64
6.66
6.69
6.75
6.74
6.67
6.56
6.48
6.56
6.55
6.46
6.47
6.53
6.48
6.44
6.35
6.23
6.12
6.23
6.13
6.04
5.89
5.80
5.81

6.00
6.00
6.00
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.25
6.25
6.25
6.25
6.25
6.00
6.00
6.00

5/11/2001
5/18/2001
5/25/2001
6/1/2001
6/8/2001
6/15/2001
6/22/2001
6/29/2001
7/6/2001
7/13/2001
7/20/2001
7/27/2001
8/3/2001
8/10/2001
8/17/2001
8/24/2001
8/31/2001
9/7/2001
9/14/2001
9/21/2001
9/28/2001
10/5/2001
10/12/2001
10/19/2001
10/26/2001
11/2/2001
11/9/2001
11/16/2001
11/23/2001
11/30/2001
12/7/2001
12/14/2001
12/21/2001
12/28/2001
1/4/2002
1/11/2002
1/18/2002
1/25/2002
2/1/2002
2/8/2002
2/15/2002
2/22/2002
3/1/2002
3/8/2002
3/15/2002
3/22/2002
3/29/2002
4/5/2002
4/12/2002
4/19/2002
4/26/2002
5/3/2002
5/10/2002
5/17/2002

5.72
5.80
5.82
5.80
5.81
5.84
5.82
5.81
5.79
5.79
5.78
5.79
5.79
5.80
5.84
5.85
5.84
5.84
5.71
5.44
5.31
5.28
5.24
5.11
5.06
4.97
4.88
4.86
4.86
4.86
4.86
4.87
4.86
4.86
4.87
4.87
4.85
4.86
4.88
4.88
4.90
4.96
4.98
5.10
5.25
5.43
5.57
5.62
5.64
5.73
5.72
5.73
5.79
5.84

6.00
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.25
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
5.00
5.00
5.00
5.00
5.25
5.25
5.25
5.25
5.50

5/24/2002
5/31/2002
6/7/2002
6/14/2002
6/21/2002
6/28/2002
7/5/2002
7/12/2002
7/19/2002
7/26/2002
8/2/2002
8/9/2002
8/16/2002
8/23/2002
8/30/2002
9/6/2002
9/13/2002
9/20/2002
9/27/2002
10/4/2002
10/11/2002
10/18/2002
10/25/2002
11/1/2002
11/8/2002
11/15/2002
11/22/2002
11/29/2002
12/6/2002
12/13/2002
12/20/2002
12/27/2002
1/3/2003
1/10/2003
1/17/2003
1/24/2003
1/31/2003
2/7/2003
2/14/2003
2/21/2003
2/28/2003
3/7/2003
3/14/2003
3/21/2003
3/28/2003
4/4/2003
4/11/2003
4/18/2003
4/25/2003
5/2/2003
5/9/2003
5/16/2003
5/23/2003
5/30/2003

5.87
5.86
5.93
5.92
5.99
5.98
6.00
6.02
6.02
5.98
5.92
5.86
5.87
5.88
5.88
5.86
5.86
5.87
5.86
5.87
5.86
5.88
5.89
5.90
5.90
5.88
5.89
5.91
5.92
5.93
5.92
5.92
5.93
5.91
5.86
5.81
5.83
5.83
5.83
5.82
5.80
5.75
5.81
5.84
5.83
5.81
5.79
5.78
5.68
5.50
5.45
5.44
5.33
5.26

5.50
5.50
5.50
5.50
5.50
5.50
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.50
5.50
5.50
5.50
5.50
5.50

6/6/2003
6/13/2003
6/20/2003
6/27/2003
7/4/2003
7/11/2003
7/18/2003
7/25/2003
8/1/2003
8/8/2003
8/15/2003
8/22/2003
8/29/2003
9/5/2003
9/12/2003
9/19/2003
9/26/2003
10/3/2003
10/10/2003
10/17/2003
10/24/2003
10/31/2003
11/7/2003
11/14/2003
11/21/2003
11/28/2003
12/5/2003
12/12/2003
12/19/2003
12/26/2003
1/2/2004
1/9/2004
1/16/2004
1/23/2004
1/30/2004
2/6/2004
2/13/2004
2/20/2004
2/27/2004
3/5/2004
3/12/2004
3/19/2004
3/26/2004
4/2/2004
4/9/2004
4/16/2004
4/23/2004
4/30/2004
5/7/2004
5/14/2004
5/21/2004
5/28/2004
6/4/2004
6/11/2004

5.22
5.26
5.20
5.22
5.21
5.13
5.09
5.06
5.06
5.08
5.13
5.13
5.13
5.13
5.14
5.15
5.16
5.16
5.17
5.18
5.21
5.22
5.28
5.38
5.42
5.39
5.36
5.28
5.32
5.32
5.34
5.37
5.28
5.33
5.42
5.59
5.58
5.58
5.60
5.62
5.57
5.51
5.50
5.52
5.55
5.56
5.58
5.69
5.82
5.87
5.93
5.96
5.97
6.01

5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.50
5.50
5.50
5.50
5.50
5.50
5.75

6/18/2004
6/25/2004
7/2/2004
7/9/2004
7/16/2004
7/23/2004
7/30/2004
8/6/2004
8/13/2004
8/20/2004
8/27/2004
9/3/2004
9/10/2004
9/17/2004
9/24/2004
10/1/2004
10/8/2004
10/15/2004
10/22/2004
10/29/2004
11/5/2004
11/12/2004
11/19/2004
11/26/2004
12/3/2004
12/10/2004
12/17/2004
12/24/2004
12/31/2004
1/7/2005
1/14/2005
1/21/2005
1/28/2005
2/4/2005
2/11/2005
2/18/2005
2/25/2005
3/4/2005
3/11/2005
3/18/2005
3/25/2005
4/1/2005
4/8/2005
4/15/2005
4/22/2005
4/29/2005
5/6/2005
5/13/2005
5/20/2005
5/27/2005
6/3/2005
6/10/2005
6/17/2005
6/24/2005

6.10
6.12
6.18
6.22
6.23
6.25
6.30
6.38
6.42
6.46
6.46
6.51
6.58
6.66
6.69
6.71
6.76
6.76
6.74
6.73
6.73
6.73
6.73
6.71
6.68
6.68
6.73
6.73
6.74
6.75
6.74
6.76
6.77
6.78
6.81
6.85
6.85
6.86
6.95
7.06
7.05
7.08
7.09
7.06
7.02
7.00
7.05
7.06
7.04
7.06
7.02
7.02
7.05
7.04

5.75
5.75
5.75
5.75
5.75
5.75
6.00
6.00
6.00
6.00
6.00
6.00
6.25
6.25
6.25
6.25
6.25
6.25
6.25
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.50
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75

7/1/2005
7/8/2005
7/15/2005
7/22/2005
7/29/2005
8/5/2005
8/12/2005
8/19/2005
8/26/2005
9/2/2005
9/9/2005
9/16/2005
9/23/2005
9/30/2005
10/7/2005
10/14/2005
10/21/2005
10/28/2005
11/4/2005
11/11/2005
11/18/2005
11/25/2005
12/2/2005
12/9/2005
12/16/2005
12/23/2005
12/30/2005
1/6/2006
1/13/2006
1/20/2006
1/27/2006
2/3/2006
2/10/2006
2/17/2006
2/24/2006
3/3/2006
3/10/2006
3/17/2006
3/24/2006
3/31/2006
4/7/2006
4/14/2006
4/21/2006
4/28/2006
5/5/2006
5/12/2006
5/19/2006
5/26/2006
6/2/2006
6/9/2006
6/16/2006
6/23/2006
6/30/2006
7/7/2006

7.03
7.03
7.02
7.03
7.02
7.03
7.03
7.03
7.04
7.04
7.05
7.06
7.09
7.18
7.22
7.24
7.31
7.34
7.40
7.46
7.56
7.62
7.67
7.66
7.64
7.65
7.68
7.67
7.67
7.66
7.60
7.57
7.57
7.52
7.50
7.50
7.51
7.50
7.48
7.45
7.47
7.45
7.46
7.50
7.49
7.50
7.49
7.48
7.48
7.48
7.47
7.48
7.46
7.47

6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
7.00
7.00
7.00
7.00
7.00
7.00
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25

7/14/2006
7/21/2006
7/28/2006
8/4/2006
8/11/2006
8/18/2006
8/25/2006
9/1/2006
9/8/2006
9/15/2006
9/22/2006
9/29/2006
10/6/2006
10/13/2006
10/20/2006
10/27/2006
11/3/2006
11/10/2006
11/17/2006
11/24/2006
12/1/2006
12/8/2006
12/15/2006
12/22/2006
12/29/2006
1/5/2007
1/12/2007
1/19/2007
1/26/2007
2/2/2007
2/9/2007
2/16/2007
2/23/2007
3/2/2007
3/9/2007
3/16/2007
3/23/2007
3/30/2007
4/6/2007
4/13/2007
4/20/2007
4/27/2007
5/4/2007
5/11/2007
5/18/2007
5/25/2007
6/1/2007
6/8/2007
6/15/2007
6/22/2007
6/29/2007
7/6/2007
7/13/2007
7/20/2007

7.46
7.50
7.49
7.48
7.47
7.50
7.50
7.49
7.51
7.54
7.58
7.64
7.66
7.65
7.73
7.64
7.57
7.60
7.61
7.63
7.62
7.63
7.65
7.67
7.73
7.72
7.74
7.69
7.67
7.67
7.71
7.75
7.78
7.79
7.83
7.89
7.91
7.93
7.92
7.92
8.01
8.04
8.07
8.08
8.09
8.09
8.13
8.26
8.34
8.35
8.37
8.37
8.37
8.49

7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.25
7.50
7.50
7.50
7.50
7.50
7.50
7.50
7.75
7.75
7.75
7.75
7.75
7.75
8.00
8.00
8.00
8.00
8.00
8.00
8.00

7/27/2007
8/3/2007
8/10/2007
8/17/2007
8/24/2007
8/31/2007
9/7/2007
9/14/2007
9/21/2007
9/28/2007
10/5/2007
10/12/2007
10/19/2007
10/26/2007
11/2/2007
11/9/2007
11/16/2007
11/23/2007
11/30/2007
12/7/2007
12/14/2007
12/21/2007
12/28/2007
1/4/2008
1/11/2008
1/18/2008
1/25/2008
2/1/2008
2/8/2008
2/15/2008
2/22/2008
2/29/2008
3/7/2008
3/14/2008
3/21/2008
3/28/2008
4/4/2008
4/11/2008
4/18/2008
4/25/2008
5/2/2008
5/9/2008
5/16/2008
5/23/2008
5/30/2008
6/6/2008
6/13/2008
6/20/2008
6/27/2008
7/4/2008
7/11/2008
7/18/2008
7/25/2008
8/1/2008

8.50
8.57
8.59
8.82
8.94
8.60
8.77
8.86
8.75
8.84
8.74
8.71
8.63
8.63
8.64
8.70
8.70
8.72
8.85
8.87
8.88
8.89
8.99
8.81
8.75
8.76
8.74
8.73
8.76
8.81
8.86
8.85
8.85
8.91
8.86
9.02
8.85
8.86
8.87
8.90
8.85
8.75
8.64
8.66
8.73
8.66
8.69
8.65
8.71
8.64
8.52
8.44
8.38
8.31

8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.00
8.00

8/8/2008
8/15/2008
8/22/2008
8/29/2008
9/5/2008
9/12/2008
9/19/2008
9/26/2008
10/3/2008
10/10/2008
10/17/2008
10/24/2008
10/31/2008
11/7/2008
11/14/2008
11/21/2008
11/28/2008
12/5/2008
12/12/2008
12/19/2008
12/26/2008
1/2/2009
1/9/2009
1/16/2009
1/23/2009
1/30/2009
2/6/2009
2/13/2009
2/20/2009
2/27/2009
3/6/2009
3/13/2009
3/20/2009
3/27/2009
4/3/2009
4/10/2009
4/17/2009
4/24/2009
5/1/2009
5/8/2009
5/15/2009
5/22/2009
5/29/2009
6/5/2009
6/12/2009
6/19/2009
6/26/2009
7/3/2009
7/10/2009
7/17/2009
7/24/2009
7/31/2009
8/7/2009
8/14/2009

8.26
8.23
8.15
8.16
8.08
7.97
7.75
7.96
8.05
7.83
7.28
7.05
7.11
6.80
6.46
5.92
5.83
5.40
5.34
5.13
5.04
5.14
4.87
4.49
4.22
3.93
3.50
3.57
3.31
3.24
3.12
3.22
3.24
3.34
3.31
3.22
3.14
3.04
2.94
2.83
2.89
2.78
2.79
2.69
2.75
2.81
2.82
2.82
2.79
2.79
2.78
2.76
2.76
2.79

8.00
8.00
8.00
8.00
8.00
7.50
7.50
7.50
7.50
7.50
7.50
6.50
6.50
6.50
6.50
6.50
6.50
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
3.50
3.50
3.50
3.50
3.50
3.50
3.00
3.00
3.00
3.00
3.00
3.00
3.00
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50

8/21/2009
8/28/2009
9/4/2009
9/11/2009
9/18/2009
9/25/2009
10/2/2009
10/9/2009
10/16/2009
10/23/2009
10/30/2009
11/6/2009
11/13/2009
11/20/2009
11/27/2009
12/4/2009
12/11/2009
12/18/2009
12/25/2009
1/1/2010
1/8/2010
1/15/2010
1/22/2010
1/29/2010
2/5/2010
2/12/2010
2/19/2010
2/26/2010
3/5/2010
3/12/2010
3/19/2010
3/26/2010
4/2/2010
4/9/2010
4/16/2010
4/23/2010
4/30/2010
5/7/2010
5/14/2010
5/21/2010
5/28/2010
6/4/2010
6/11/2010
6/18/2010
6/25/2010
7/2/2010
7/9/2010
7/16/2010
7/23/2010
7/30/2010
8/6/2010
8/13/2010
8/20/2010
8/27/2010

2.74
2.76
2.76
2.76
2.78
2.77
2.80
2.76
2.81
2.79
2.80
2.80
2.82
2.77
2.80
2.78
2.77
2.76
2.77
2.81
2.79
2.78
2.77
2.77
2.75
2.74
2.70
2.71
2.69
2.68
2.67
2.64
2.69
2.67
2.69
2.68
2.70
2.80
2.91
2.90
2.93
3.00
3.02
3.09
3.08
3.15
3.17
3.22
3.24
3.29
3.29
3.27
3.23
3.23

2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.75
2.75
2.75
2.75
2.75
2.75
2.75
3.00
3.00
3.00
3.00
3.00

9/3/2010
9/10/2010
9/17/2010
9/24/2010
10/1/2010
10/8/2010
10/15/2010
10/22/2010
10/29/2010
11/5/2010
11/12/2010
11/19/2010
11/26/2010
12/3/2010
12/10/2010
12/17/2010
12/24/2010
12/31/2010
1/7/2011
1/14/2011
1/21/2011
1/28/2011
2/4/2011
2/11/2011
2/18/2011
2/25/2011
3/4/2011
3/11/2011
3/18/2011
3/25/2011
4/1/2011
4/8/2011
4/15/2011
4/22/2011
4/29/2011
5/6/2011
5/13/2011
5/20/2011
5/27/2011
6/3/2011
6/10/2011
6/17/2011
6/24/2011
7/1/2011
7/8/2011
7/15/2011
7/22/2011
7/29/2011
8/5/2011
8/12/2011
8/19/2011
8/26/2011
9/2/2011
9/9/2011

3.22
3.19
3.19
3.16
3.18
3.17
3.19
3.18
3.18
3.17
3.17
3.17
3.17
3.18
3.18
3.17
3.17
3.18
3.20
3.19
3.18
3.19
3.19
3.19
3.19
3.03
2.86
2.75
2.63
2.60
2.62
2.64
2.65
2.65
2.66
2.65
2.68
2.65
2.65
2.67
2.64
2.65
2.64
2.68
2.66
2.66
2.71
2.81
2.91
2.85
2.93
2.89
2.94
2.92

3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50

9/16/2011
9/23/2011
9/30/2011
10/7/2011
10/14/2011
10/21/2011
10/28/2011
11/4/2011
11/11/2011
11/18/2011
11/25/2011
12/2/2011
12/9/2011
12/16/2011
12/23/2011
12/30/2011
1/6/2012
1/13/2012
1/20/2012
1/27/2012
2/3/2012
2/10/2012
2/17/2012
2/24/2012
3/2/2012
3/9/2012
3/16/2012
3/23/2012
3/30/2012
4/6/2012
4/13/2012
4/20/2012
4/27/2012
5/4/2012
5/11/2012
5/18/2012
5/25/2012
6/1/2012
6/8/2012
6/15/2012
6/22/2012
6/29/2012
7/6/2012
7/13/2012
7/20/2012
7/27/2012
8/3/2012
8/10/2012
8/17/2012
8/24/2012
8/31/2012
9/7/2012
9/14/2012
9/21/2012

2.93
2.80
2.83
2.82
2.80
2.71
2.71
2.71
2.72
2.68
2.65
2.71
2.68
2.71
2.66
2.72
2.74
2.75
2.74
2.73
2.75
2.75
2.74
2.76
2.75
2.74
2.74
2.72
2.76
2.74
2.75
2.74
2.72
2.67
2.59
2.60
2.53
2.55
2.54
2.60
2.63
2.66
2.68
2.68
2.66
2.64
2.66
2.66
2.65
2.62
2.64
2.63
2.64
2.63

2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50

9/28/2012
10/5/2012
10/12/2012
10/19/2012
10/26/2012
11/2/2012
11/9/2012
11/16/2012
11/23/2012
11/30/2012
12/7/2012
12/14/2012
12/21/2012
12/28/2012
1/4/2013
1/11/2013
1/18/2013
1/25/2013
2/1/2013
2/8/2013
2/15/2013
2/22/2013
3/1/2013
3/8/2013
3/15/2013
3/22/2013
3/28/2013
4/5/2013
4/12/2013
4/19/2013
4/26/2013
5/3/2013
5/10/2013
5/17/2013
5/24/2013
5/31/2013
6/7/2013
6/14/2013
6/21/2013
6/28/2013
7/5/2013
7/12/2013
7/19/2013
7/26/2013
8/2/2013
8/9/2013
8/16/2013
8/23/2013
8/30/2013
9/6/2013
9/13/2013
9/20/2013
9/27/2013
10/4/2013

2.66
2.64
2.66
2.64
2.63
2.66
2.63
2.64
2.63
2.63
2.61
2.66
2.64
2.68
2.68
2.65
2.66
2.65
2.67
2.66
2.67
2.65
2.65
2.64
2.64
2.63
2.65
2.65
2.65
2.64
2.64
2.64
2.64
2.64
2.64
2.65
2.64
2.64
2.63
2.65
2.64
2.64
2.64
2.64
2.65
2.63
2.64
2.63
2.65
2.64
2.64
2.64
2.66
2.67

2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50

10/11/2013
10/18/2013
10/25/2013
11/1/2013
11/8/2013
11/15/2013
11/22/2013
11/29/2013
12/6/2013
12/13/2013
12/20/2013
12/27/2013
1/3/2014
1/10/2014
1/17/2014
1/24/2014
1/31/2014
2/7/2014
2/14/2014
2/21/2014
2/28/2014
3/7/2014
3/14/2014
3/21/2014
3/28/2014
4/4/2014
4/11/2014
4/17/2014
4/24/2014
5/2/2014
5/9/2014
5/16/2014
5/23/2014
5/30/2014
6/6/2014
6/13/2014
6/20/2014
6/27/2014
7/4/2014
7/11/2014
7/18/2014
7/25/2014
8/1/2014
8/8/2014
8/15/2014
8/22/2014
8/29/2014
9/5/2014
9/12/2014
9/19/2014
9/26/2014
10/3/2014
10/10/2014
10/17/2014

2.66
2.68
2.66
2.67
2.65
2.67
2.65
2.68
2.69
2.69
2.73
2.79
2.86
2.86
2.88
2.90
2.90
2.88
2.92
2.94
2.96
2.99
3.02
3.09
3.10
3.16
3.20
3.27
3.29
3.31
3.33
3.40
3.40
3.41
3.43
3.46
3.57
3.59
3.65
3.66
3.67
3.67
3.70
3.69
3.69
3.68
3.69
3.70
3.70
3.72
3.72
3.70
3.68
3.69

2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.75
2.75
2.75
2.75
2.75
2.75
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.25
3.25
3.25
3.25
3.25
3.25
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50

10/24/2014
10/31/2014
11/7/2014
11/14/2014
11/21/2014
11/28/2014
12/5/2014
12/12/2014
12/19/2014
12/24/2014
12/31/2014
1/9/2015
1/16/2015
1/23/2015
1/30/2015
2/5/2015
2/13/2015
2/20/2015
2/27/2015
3/6/2015
3/13/2015
3/20/2015
3/27/2015
4/2/2015
4/10/2015
4/17/2015
4/24/2015
5/1/2015
5/8/2015
5/15/2015
5/22/2015
5/29/2015
6/5/2015
6/12/2015
6/19/2015
6/26/2015
7/3/2015
7/10/2015
7/17/2015
7/24/2015
7/31/2015
8/7/2015
8/14/2015
8/21/2015
8/28/2015
9/4/2015
9/11/2015
9/18/2015
9/25/2015
10/2/2015
10/9/2015
10/16/2015
10/23/2015
10/30/2015

3.67
3.69
3.67
3.67
3.66
3.67
3.67
3.67
3.66
3.66
3.67
3.67
3.67
3.67
3.66
3.64
3.64
3.63
3.63
3.63
3.64
3.62
3.64
3.64
3.63
3.63
3.61
3.63
3.61
3.54
3.49
3.48
3.47
3.39
3.28
3.25
3.24
3.18
3.15
3.06
3.08
3.03
2.97
2.91
2.90
2.90
2.86
2.84
2.84
2.84
2.83
2.85
2.86
2.92

3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.25
3.25
3.25
3.25
3.25
3.25
3.00
3.00
3.00
3.00
3.00
3.00
3.00
2.75
2.75
2.75
2.75
2.75
2.75
2.75
2.75

11/6/2015
11/13/2015
11/20/2015
11/27/2015
12/4/2015
12/11/2015
12/18/2015
12/24/2015
12/31/2015
1/8/2016
1/15/2016
1/22/2016
1/29/2016
2/5/2016
2/12/2016
2/19/2016
2/26/2016

2.93
2.90
2.87
2.86
2.86
2.80
2.75
2.75
2.76
2.75
2.74
2.73
2.71
2.66
2.64
2.60
2.58

2.75
2.75
2.75
2.75
2.75
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50
2.50

Figure 8 - Nominal and TWI

(Indices based to long-run average = 100)
DATE
1970M1
1970M2
1970M3
1970M4
1970M5
1970M6
1970M7
1970M8
1970M9
1970M10
1970M11
1970M12
1971M1
1971M2
1971M3
1971M4
1971M5
1971M6
1971M7
1971M8
1971M9
1971M10
1971M11
1971M12
1972M1
1972M2
1972M3
1972M4
1972M5
1972M6
1972M7
1972M8
1972M9
1972M10
1972M11
1972M12
1973M1
1973M2
1973M3
1973M4
1973M5
1973M6
1973M7
1973M8
1973M9
1973M10
1973M11
1973M12
1974M1
1974M2

NZD/USD Exchange Rate (monthly average 11am rate)

R$USD

TWI (index: 1979=100)

RTWI
1.12 Err:512
1.12 Err:512
1.12
113.10
1.12 Err:512
1.12 Err:512
1.12
112.80
1.12 Err:512
1.12 Err:512
1.12
112.60
1.12 Err:512
1.12 Err:512
1.12
112.70
1.12 Err:512
1.12 Err:512
1.12
113.00
1.12 Err:512
1.12 Err:512
1.12
113.00
1.12 Err:512
1.12 Err:512
1.15
113.10
1.16 Err:512
1.16 Err:512
1.20
112.30
1.20 Err:512
1.20 Err:512
1.20
110.40
1.20 Err:512
1.20 Err:512
1.20
113.50
1.20 Err:512
1.20 Err:512
1.20
114.40
1.20 Err:512
1.20 Err:512
1.20
116.00
1.20 Err:512
1.33 Err:512
1.33
120.80
1.33 Err:512
1.33 Err:512
1.33
117.70
1.35 Err:512
1.34 Err:512
1.44
133.10
1.48 Err:512
1.46 Err:512
1.43
133.10
1.39 Err:512
1.41 Err:512

1974M3
1974M4
1974M5
1974M6
1974M7
1974M8
1974M9
1974M10
1974M11
1974M12
1975M1
1975M2
1975M3
1975M4
1975M5
1975M6
1975M7
1975M8
1975M9
1975M10
1975M11
1975M12
1976M1
1976M2
1976M3
1976M4
1976M5
1976M6
1976M7
1976M8
1976M9
1976M10
1976M11
1976M12
1977M1
1977M2
1977M3
1977M4
1977M5
1977M6
1977M7
1977M8
1977M9
1977M10
1977M11
1977M12
1978M1
1978M2
1978M3
1978M4
1978M5
1978M6
1978M7
1978M8

1.44
1.46 Err:512
1.46 Err:512
1.45
1.45 Err:512
1.43 Err:512
1.40
1.30 Err:512
1.30 Err:512
1.31
1.32 Err:512
1.34 Err:512
1.35
1.33 Err:512
1.32 Err:512
1.31
1.28 Err:512
1.12 Err:512
1.06
1.05 Err:512
1.05 Err:512
1.04
1.05 Err:512
1.05 Err:512
1.03
1.01 Err:512
1.00 Err:512
0.99
0.99 Err:512
1.00 Err:512
0.99
0.97 Err:512
0.96 Err:512
0.92
0.95 Err:512
0.95 Err:512
0.96
0.96 Err:512
0.96 Err:512
0.96
0.97 Err:512
0.97 Err:512
0.97
0.98 Err:512
1.00 Err:512
1.01
1.02
1.02
1.02
1.02
1.01
1.02
1.04
1.06

133.10

133.10

124.80

124.80

124.80

124.80

106.10

106.10

106.10

106.10

106.10

105.30

105.30

105.30

105.30

105.30
105.30
105.30
105.30
105.30
105.30
105.30
105.30
105.30

1978M9
1978M10
1978M11
1978M12
1979M1
1979M2
1979M3
1979M4
1979M5
1979M6
1979M7
1979M8
1979M9
1979M10
1979M11
1979M12
1980M1
1980M2
1980M3
1980M4
1980M5
1980M6
1980M7
1980M8
1980M9
1980M10
1980M11
1980M12
1981M1
1981M2
1981M3
1981M4
1981M5
1981M6
1981M7
1981M8
1981M9
1981M10
1981M11
1981M12
1982M1
1982M2
1982M3
1982M4
1982M5
1982M6
1982M7
1982M8
1982M9
1982M10
1982M11
1982M12
1983M1
1983M2

1.06
1.07
1.06
1.05
1.06
1.05
1.05
1.05
1.04
1.04
1.02
1.01
1.00
0.99
0.97
0.98
0.99
0.98
0.96
0.95
0.98
0.99
0.99
0.98
0.98
0.98
0.97
0.95
0.96
0.94
0.92
0.90
0.88
0.86
0.84
0.82
0.83
0.83
0.83
0.83
0.81
0.79
0.78
0.77
0.77
0.75
0.74
0.73
0.73
0.72
0.71
0.73
0.73
0.72

105.30
105.30
105.30
105.30
105.30
105.30
105.30
105.30
105.30
100.00
99.60
99.40
99.00
98.90
99.30
98.70
98.30
98.00
97.00
96.70
95.60
94.80
94.60
93.80
93.00
92.40
92.00
90.60
90.20
89.50
89.20
88.80
88.40
87.40
87.20
86.40
85.80
85.70
84.80
84.50
84.30
84.00
83.80
82.90
82.80
82.90
83.10
83.30
83.40
83.30
82.60
82.40
81.90
81.90

1983M3
1983M4
1983M5
1983M6
1983M7
1983M8
1983M9
1983M10
1983M11
1983M12
1984M1
1984M2
1984M3
1984M4
1984M5
1984M6
1984M7
1984M8
1984M9
1984M10
1984M11
1984M12
1985M1
1985M2
1985M3
1985M4
1985M5
1985M6
1985M7
1985M8
1985M9
1985M10
1985M11
1985M12
1986M1
1986M2
1986M3
1986M4
1986M5
1986M6
1986M7
1986M8
1986M9
1986M10
1986M11
1986M12
1987M1
1987M2
1987M3
1987M4
1987M5
1987M6
1987M7
1987M8

0.67
0.66
0.66
0.66
0.65
0.65
0.65
0.66
0.66
0.65
0.65
0.66
0.67
0.66
0.65
0.64
0.56
0.50
0.49
0.49
0.49
0.48
0.47
0.45
0.45
0.46
0.45
0.46
0.49
0.53
0.53
0.57
0.57
0.53
0.52
0.53
0.53
0.56
0.57
0.54
0.53
0.50
0.48
0.50
0.51
0.51
0.54
0.55
0.56
0.58
0.58
0.59
0.60
0.59

77.30
77.30
77.10
77.10
77.20
77.50
77.10
76.90
76.80
76.80
74.74
74.79
74.71
74.56
74.61
74.68
67.08
59.73
59.77
59.78
59.94
59.8
59.44
59.3
59.9
59.24
58.67
59.09
62.16
66.3
66.88
69.01
68.61
63.04
60.94
61.46
60.05
62.93
62.87
61.05
60.28
56.56
54.28
56.98
58.74
58.07
59.15
59.96
60.96
60.95
60.31
61.97
63.76
62.82

1987M9
1987M10
1987M11
1987M12
1988M1
1988M2
1988M3
1988M4
1988M5
1988M6
1988M7
1988M8
1988M9
1988M10
1988M11
1988M12
1989M1
1989M2
1989M3
1989M4
1989M5
1989M6
1989M7
1989M8
1989M9
1989M10
1989M11
1989M12
1990M1
1990M2
1990M3
1990M4
1990M5
1990M6
1990M7
1990M8
1990M9
1990M10
1990M11
1990M12
1991M1
1991M2
1991M3
1991M4
1991M5
1991M6
1991M7
1991M8
1991M9
1991M10
1991M11
1991M12
1992M1
1992M2

0.63
0.64
0.62
0.65
0.66
0.66
0.66
0.66
0.69
0.70
0.67
0.65
0.62
0.62
0.64
0.64
0.63
0.62
0.62
0.61
0.61
0.57
0.58
0.59
0.59
0.59
0.59
0.59
0.60
0.59
0.59
0.58
0.57
0.58
0.59
0.61
0.62
0.61
0.61
0.60
0.60
0.60
0.59
0.59
0.59
0.58
0.57
0.57
0.58
0.56
0.56
0.55
0.54
0.54

66.17
67.41
63.58
64.85
66.11
67.08
66.02
65.16
67.49
69.18
67.47
66.04
62.58
61.93
62
61.47
60.98
60.53
61.57
61.54
62.64
60.58
59.8
61.49
61.93
60.78
60.77
61.12
61.93
61.07
61.49
61.04
59.91
60.54
60.36
61.63
61.46
59.68
59.82
59.24
58.99
59
60.1
60.12
60.22
60.18
58.99
58.94
58.84
56.92
56.42
55.26
54.32
54.62

1992M3
1992M4
1992M5
1992M6
1992M7
1992M8
1992M9
1992M10
1992M11
1992M12
1993M1
1993M2
1993M3
1993M4
1993M5
1993M6
1993M7
1993M8
1993M9
1993M10
1993M11
1993M12
1994M1
1994M2
1994M3
1994M4
1994M5
1994M6
1994M7
1994M8
1994M9
1994M10
1994M11
1994M12
1995M1
1995M2
1995M3
1995M4
1995M5
1995M6
1995M7
1995M8
1995M9
1995M10
1995M11
1995M12
1996M1
1996M2
1996M3
1996M4
1996M5
1996M6
1996M7
1996M8

0.55
0.54
0.54
0.54
0.55
0.54
0.54
0.54
0.52
0.52
0.51
0.52
0.53
0.54
0.54
0.54
0.55
0.55
0.55
0.55
0.55
0.56
0.56
0.57
0.57
0.57
0.58
0.59
0.60
0.60
0.60
0.61
0.62
0.64
0.64
0.63
0.65
0.67
0.67
0.67
0.67
0.66
0.66
0.66
0.65
0.65
0.66
0.68
0.68
0.68
0.69
0.68
0.69
0.69

55.88
55.19
54.13
54.18
54.11
53.75
53.89
54.61
54.19
53.79
54.15
54.4
55.04
55
55.47
55.63
56.83
57.01
57.22
57.47
57.21
58.1
59.27
59.64
59.16
58.65
59.73
60.06
60.2
60.28
60.1
60.42
61.36
63.03
63.38
62.9
62.98
63.68
64.23
64.45
65
64.47
64.9
64.91
64.72
64.77
66.52
67.57
67.82
67.95
68.09
67.48
68.82
68.64

1996M9
1996M10
1996M11
1996M12
1997M1
1997M2
1997M3
1997M4
1997M5
1997M6
1997M7
1997M8
1997M9
1997M10
1997M11
1997M12
1998M1
1998M2
1998M3
1998M4
1998M5
1998M6
1998M7
1998M8
1998M9
1998M10
1998M11
1998M12
1999M1
1999M2
1999M3
1999M4
1999M5
1999M6
1999M7
1999M8
1999M9
1999M10
1999M11
1999M12
2000M1
2000M2
2000M3
2000M4
2000M5
2000M6
2000M7
2000M8
2000M9
2000M10
2000M11
2000M12
2001M1
2001M2

0.70
0.70
0.71
0.71
0.70
0.69
0.70
0.69
0.69
0.69
0.66
0.64
0.64
0.64
0.62
0.59
0.58
0.58
0.57
0.55
0.54
0.51
0.52
0.50
0.50
0.52
0.53
0.52
0.54
0.54
0.53
0.54
0.55
0.53
0.53
0.53
0.52
0.51
0.51
0.51
0.51
0.49
0.49
0.50
0.47
0.47
0.46
0.45
0.42
0.40
0.40
0.43
0.44
0.44

69.46
70.25
70.78
70.74
71.48
71.77
72.23
72.18
71.59
71.16
69.39
68.47
68.64
69.11
68.97
68.77
69.39
68.23
67.12
65.06
64.36
62.81
63.39
62.36
61.34
60.87
61.67
60.25
61.54
62.57
62.07
62.99
63.81
61.67
60.92
60.62
59.67
58.31
58.46
57.95
58.22
56.96
57.31
58.34
56.63
55.64
55
53.71
51.33
50.1
50.2
53.26
55.02
54.48

2001M3
2001M4
2001M5
2001M6
2001M7
2001M8
2001M9
2001M10
2001M11
2001M12
2002M1
2002M2
2002M3
2002M4
2002M5
2002M6
2002M7
2002M8
2002M9
2002M10
2002M11
2002M12
2003M1
2003M2
2003M3
2003M4
2003M5
2003M6
2003M7
2003M8
2003M9
2003M10
2003M11
2003M12
2004M1
2004M2
2004M3
2004M4
2004M5
2004M6
2004M7
2004M8
2004M9
2004M10
2004M11
2004M12
2005M1
2005M2
2005M3
2005M4
2005M5
2005M6
2005M7
2005M8

0.42
0.41
0.42
0.41
0.41
0.43
0.42
0.41
0.42
0.42
0.42
0.42
0.43
0.44
0.46
0.49
0.48
0.46
0.47
0.48
0.50
0.51
0.54
0.55
0.55
0.55
0.58
0.58
0.59
0.58
0.58
0.60
0.63
0.65
0.67
0.69
0.66
0.64
0.62
0.63
0.65
0.65
0.66
0.68
0.70
0.71
0.70
0.71
0.73
0.72
0.72
0.71
0.68
0.70

53.91
52.86
54.3
53.7
53.23
54.9
53.71
53.39
53.6
53.81
55.42
54.92
56.08
57.04
58.13
60.61
59.07
57.53
58.28
59.89
61.15
62.53
64.99
66.21
66.13
65.6
66.5
66.43
67.42
67.54
66.98
67.16
69.6
70.46
71.87
73.63
71.64
69.77
68.45
69.83
71.01
72.25
72.89
74.31
73.94
74.91
74.08
74.91
76.22
75.9
76.27
75.99
73.8
74.68

2005M9
2005M10
2005M11
2005M12
2006M1
2006M2
2006M3
2006M4
2006M5
2006M6
2006M7
2006M8
2006M9
2006M10
2006M11
2006M12
2007M1
2007M2
2007M3
2007M4
2007M5
2007M6
2007M7
2007M8
2007M9
2007M10
2007M11
2007M12
2008M1
2008M2
2008M3
2008M4
2008M5
2008M6
2008M7
2008M8
2008M9
2008M10
2008M11
2008M12
2009M1
2009M2
2009M3
2009M4
2009M5
2009M6
2009M7
2009M8
2009M9
2009M10
2009M11
2009M12
2010M1
2010M2

0.70
0.70
0.69
0.70
0.69
0.67
0.64
0.62
0.63
0.62
0.62
0.63
0.65
0.66
0.67
0.69
0.70
0.69
0.70
0.73
0.73
0.76
0.79
0.73
0.72
0.76
0.76
0.77
0.77
0.80
0.80
0.79
0.78
0.76
0.76
0.71
0.67
0.61
0.57
0.56
0.55
0.52
0.53
0.57
0.60
0.64
0.64
0.68
0.70
0.74
0.73
0.72
0.73
0.70

75.17
75.91
76.1
76.42
74.36
73.3
69.47
67.16
66.65
66.38
65.88
67.14
69.69
70.62
70.52
72.07
72.9
72.57
72.42
75.1
74.91
77.07
78.92
73.84
71.99
74.63
74.06
75.43
75
76.44
75.5
74.16
73.07
71.76
70.77
68.99
67.54
65.04
61.71
59.73
59.21
56.56
58.26
60.9
61.69
64.23
64.66
66.87
68.49
70.39
69.09
68.33
69.35
67.55

2010M3
2010M4
2010M5
2010M6
2010M7
2010M8
2010M9
2010M10
2010M11
2010M12
2011M1
2011M2
2011M3
2011M4
2011M5
2011M6
2011M7
2011M8
2011M9
2011M10
2011M11
2011M12
2012M1
2012M2
2012M3
2012M4
2012M5
2012M6
2012M7
2012M8
2012M9
2012M10
2012M11
2012M12
2013M1
2013M2
2013M3
2013M4
2013M5
2013M6
2013M7
2013M8
2013M9
2013M10
2013M11
2013M12
2014M1
2014M2
2014M3
2014M4
2014M5
2014M6
2014M7
2014M8

0.70
0.71
0.70
0.69
0.71
0.72
0.73
0.75
0.77
0.75
0.77
0.76
0.74
0.79
0.80
0.82
0.85
0.84
0.81
0.79
0.77
0.77
0.80
0.83
0.82
0.82
0.78
0.78
0.80
0.81
0.82
0.82
0.82
0.83
0.84
0.84
0.83
0.85
0.83
0.79
0.79
0.79
0.81
0.83
0.83
0.82
0.83
0.83
0.85
0.86
0.86
0.86
0.87
0.84

67.59
68.13
68.81
68.84
69.39
68.73
68.69
68.91
70.9
69.37
70.27
69.45
67.12
69.93
70.35
72.17
74.29
73.92
73.1
71.4
70.11
70.22
72.4
74.33
73.83
74
71.15
72.04
73.09
73.57
73.79
73.97
73.87
74.8
75.45
76.46
75.9
77.58
76.75
74.43
75.17
75.7
77.05
78.09
77.95
78.52
79.58
79.29
81.26
81.62
81.44
81.5
81.93
79.91

2014M9
2014M10
2014M11
2014M12
2015M1
2015M2
2015M3
2015M4
2015M5
2015M6
2015M7
2015M8
2015M9
2015M10
2015M11
2015M12
2016M1
2016M2

0.82
0.79
0.78
0.78
0.76
0.74
0.75
0.76
0.74
0.70
0.67
0.65
0.63
0.67
0.66
0.67
0.65
0.66

78.49
76.76
77.43
78.24
78.18
77.16
78.27
79.17
76.49
72.97
70.41
70.32
68.77
71.8
71.39
73.23
71.93
72.35

Source: RBNZ

Figure 8b - Nominal and real TWI

(Indices based to long-run average = 100)
DATE
1970Q1
1970Q2
1970Q3
1970Q4
1971Q1
1971Q2
1971Q3
1971Q4
1972Q1
1972Q2
1972Q3
1972Q4
1973Q1
1973Q2
1973Q3
1973Q4
1974Q1
1974Q2
1974Q3
1974Q4
1975Q1
1975Q2
1975Q3
1975Q4
1976Q1
1976Q2
1976Q3
1976Q4
1977Q1
1977Q2
1977Q3
1977Q4
1978Q1
1978Q2
1978Q3
1978Q4
1979Q1
1979Q2
1979Q3
1979Q4
1980Q1
1980Q2
1980Q3
1980Q4
1981Q1
1981Q2
1981Q3
1981Q4
1982Q1
1982Q2

Not charted
Nominal
TWI
NZ/Relative
world
CPIs
Relative
world/NZ CPIs
TWI
RELCPI3
RELCPI
148.7
60
156
148.3
59.8
156.5
148.1
60.3
155.1
148.2
61.6
151.8
148.6
62.1
150.7
148.6
61.9
151.1
148.7
62.2
150.3
147.7
62.8
148.9
145.2
63.1
148.2
149.2
63
148.5
150.4
63.2
148.1
152.5
62.5
149.8
158.8
62.9
148.8
154.8
62.6
149.5
175
62.8
149
175
62.3
150.3
175
61.3
152.7
175
59.9
156.1
164.1
60.3
155.2
164.1
60.1
155.6
164.1
59.7
156.6
164.1
59.3
157.7
139.5
59.9
156.2
139.5
60.2
155.3
139.5
62
151
139.5
63
148.5
139.5
63.8
146.6
138.5
63.3
147.8
138.5
63.4
147.5
138.5
64.5
145
138.5
65.9
141.9
138.5
67.2
139.2
138.5
67.6
138.3
138.5
67.9
137.7
138.5
68.4
136.8
138.5
69.2
135.2
138.5
69.4
134.8
136.1
70.4
132.8
130.6
71.7
130.5
130.1
72.5
129.1
128.6
73
128.2
125.8
73.2
127.7
123.3
74.6
125.4
120.5
75.8
123.4
117.9
76.5
122.3
116
77.7
120.5
113.7
79.2
118.1
111.8
80.3
116.5
110.5
81.7
114.5
109
83.9
111.5

1982Q3
1982Q4
1983Q1
1983Q2
1983Q3
1983Q4
1984Q1
1984Q2
1984Q3
1984Q4
1985Q1
1985Q2
1985Q3
1985Q4
1986Q1
1986Q2
1986Q3
1986Q4
1987Q1
1987Q2
1987Q3
1987Q4
1988Q1
1988Q2
1988Q3
1988Q4
1989Q1
1989Q2
1989Q3
1989Q4
1990Q1
1990Q2
1990Q3
1990Q4
1991Q1
1991Q2
1991Q3
1991Q4
1992Q1
1992Q2
1992Q3
1992Q4
1993Q1
1993Q2
1993Q3
1993Q4
1994Q1
1994Q2
1994Q3
1994Q4
1995Q1
1995Q2
1995Q3
1995Q4

109.5
108.8
105.7
101.5
101.6
101
100.7
100.5
80.7
80.3
81.3
80.5
88.1
90.2
81.6
83.1
76
76.8
79.7
80.4
84.8
86
87.2
87.7
84.6
79.7
78.6
80.3
80
79.9
81.1
79.8
80
77.6
77.3
78
76.2
72.7
71.4
70.7
70.3
70.5
70.6
71.1
72.9
73.7
74.5
74.4
75.2
76.9
78.7
79.9
81.1
81.4

85.2
86.1
86.1
85.5
85.5
85.1
85.4
86.4
88.2
89.9
92.8
95.8
97.5
98.4
99.8
101.9
104.8
113.6
114.8
116.6
116.8
117.9
118.9
118.1
118.4
118.3
118.7
118.3
121.1
120.9
120.2
119.7
119.6
118.8
119.3
118.7
118.9
117.8
118
117.6
117.8
117.7
117.3
117
117.5
117.5
117.1
116.6
117
117.3
117.2
117
116.8
116.6

109.8
108.6
108.6
109.4
109.4
109.9
109.6
108.3
106.1
104.1
100.8
97.6
96
95.1
93.8
91.8
89.2
82.3
81.5
80.2
80.1
79.3
78.7
79.2
79
79.1
78.8
79.1
77.3
77.3
77.9
78.1
78.2
78.8
78.4
78.8
78.7
79.4
79.2
79.5
79.4
79.5
79.8
80
79.6
79.6
79.9
80.2
80
79.8
79.8
80
80.1
80.3

1996Q1
1996Q2
1996Q3
1996Q4
1997Q1
1997Q2
1997Q3
1997Q4
1998Q1
1998Q2
1998Q3
1998Q4
1999Q1
1999Q2
1999Q3
1999Q4
2000Q1
2000Q2
2000Q3
2000Q4
2001Q1
2001Q2
2001Q3
2001Q4
2002Q1
2002Q2
2002Q3
2002Q4
2003Q1
2003Q2
2003Q3
2003Q4
2004Q1
2004Q2
2004Q3
2004Q4
2005Q1
2005Q2
2005Q3
2005Q4
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2

84.5
85
86.3
88.2
89.9
89.4
85.2
84
80.4
76.9
75.1
73.6
75.8
77.7
74.5
71.6
71.1
70.2
65.9
62.8
66.4
65.5
65.8
65.2
67.9
71.7
70.9
74.2
79.7
80.4
82.1
84
87.9
84.1
87.2
90.2
91.5
93.1
91.7
94.0
89.7
82.6
83.6
88.2
90.5
94.7
93.9
93.4
94.6
91.1
86.2
76.0
70.6
76.8

116.6
116.2
116.4
116.5
116.3
115.6
115.4
115.5
115.6
114.9
116
115.4
115.7
115.7
115.6
114.9
114.9
115.1
115
116.4
115.7
115.9
116.3
116.6
116.5
116.4
116.6
117
116.6
116
115.7
116
115.8
115.8
116.4
116.5
116.6
116.6
116.9
117.5
117.6
117.6
117.3
116.8
116.9
116.3
116.4
116.6
116.1
115.6
116.1
116.4
117.4
117.1

80.3
80.5
80.4
80.3
80.4
80.9
81.1
81
80.9
81.4
80.7
81.1
80.8
80.9
80.9
81.4
81.4
81.3
81.3
80.4
80.9
80.7
80.5
80.2
80.3
80.4
80.2
79.9
80.3
80.7
80.9
80.7
80.8
80.8
80.4
80.3
80.2
80.2
80.0
79.6
79.5
79.5
79.7
80.1
80.0
80.4
80.4
80.3
80.6
80.9
80.6
80.3
79.7
79.9

2009Q3
2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2

82.3
86.1
85.8
87.8
87.9
89.2
88.4
90.8
94.7
90.3
95.4
93.7
95.5
96.8
99.8
100.6
98.9
101.6
103.4
105.4

117.4
115.9
114.7
114.3
116.3
118.7
118.7
118.1
117.6
117.2
117.5
117.9
117.8
116.8
117.0
116.2
116.9
116.9
116.8
116.5

79.7
80.7
81.5
81.8
80.4
78.8
78.8
79.2
79.6
79.8
79.6
79.4
79.4
80.1
79.9
80.5
80.0
80.0
80.1
80.3

Source: RBNZ

Real TWI (=Col C / Col E *100)

REALTWI
95.3
94.8
95.5
97.6
98.6
98.4
98.9
99.1
98
100.5
101.6
101.9
106.8
103.6
117.5
116.5
114.6
112.1
105.8
105.5
104.8
104.1
89.3
89.8
92.4
94
95.1
93.7
93.9
95.5
97.6
99.5
100.1
100.6
101.2
102.4
102.7
102.5
100.1
100.8
100.3
98.5
98.4
97.7
96.4
96.3
96.3
95.9
96.5
97.7

99.7
100.2
97.3
92.8
92.8
92
91.9
92.8
76.1
77.2
80.6
82.5
91.8
94.9
87
90.5
85.2
93.3
97.8
100.1
105.9
108.4
110.8
110.7
107.1
100.7
99.8
101.6
103.6
103.3
104.1
102.2
102.2
98.6
98.6
99
96.8
91.5
90.1
88.9
88.6
88.7
88.4
88.9
91.5
92.6
93.2
92.8
94
96.4
98.5
99.9
101.2
101.5

105.2
105.5
107.4
109.9
111.8
110.5
105
103.7
99.4
94.4
93.1
90.8
93.8
96.1
92.1
87.9
87.3
86.3
81.1
78.1
82.1
81.1
81.7
81.2
84.5
89.2
88.4
92.8
99.3
99.6
101.5
104.1
108.8
104.1
108.5
112.3
114.1
116.0
114.5
118.1
112.8
103.8
104.9
110.1
113.1
117.7
116.8
116.3
117.4
112.6
107.0
94.6
88.6
96.1

103.2
106.7
105.3
107.3
109.3
113.1
112.2
114.7
119.0
113.2
119.8
118.1
120.3
120.9
124.8
125.0
123.6
127.0
129.1
131.2

Figure 9 Employment and unemployment

1970Q1
1970Q2
1970Q3
1970Q4
1971Q1
1971Q2
1971Q3
1971Q4
1972Q1
1972Q2
1972Q3
1972Q4
1973Q1
1973Q2
1973Q3
1973Q4
1974Q1
1974Q2
1974Q3
1974Q4
1975Q1
1975Q2
1975Q3
1975Q4
1976Q1
1976Q2
1976Q3
1976Q4
1977Q1
1977Q2
1977Q3
1977Q4
1978Q1
1978Q2
1978Q3
1978Q4
1979Q1
1979Q2
1979Q3
1979Q4
1980Q1
1980Q2
1980Q3
1980Q4
1981Q1
1981Q2
1981Q3
1981Q4
1982Q1
1982Q2
1982Q3

(seasonally adjusted)
Employment, 000s
Unemployment rate, %
1215.1
1214.3
1217.1
1247.7
1250.3
1245.2
1242.8
1268.2
1267.5
1263.5
1265.2
1301.4
1312.2
1323.2
1334.7
1372.8
1381.4
1387.0
1389.4
1413.6
1409.6
1406.7
1405.4
1435.6
1434.1
1428.3
1425.1
1455.7
1452.1
1441.6
1432.9
1457.5
1451.8
1448.3
1446.1
1478.0
1477.0
1475.1
1473.6
1504.7
1503.0
1487.2
1463.1
1490.4
1500.9
1491.7
1490.1
1525.9
1517.2
1516.6
1512.6

Source: From 1986: Statistics NZ from 1

0.8
0.8
0.8
0.8
0.9
0.9
1.0
1.2
1.3
1.3
1.3
1.3
1.2
1.1
1.0
1.0
1.0
1.0
1.0
1.0
1.2
1.1
1.1
1.1
1.2
1.1
1.0
0.9
0.8
0.7
0.8
1.1
1.5
1.7
1.6
1.4
1.5
1.4
1.3
1.3
1.5
1.6
2.1
2.5
2.6
2.6
2.5
2.7
2.7
2.6
2.8

1982Q4
1983Q1
1983Q2
1983Q3
1983Q4
1984Q1
1984Q2
1984Q3
1984Q4
1985Q1
1985Q2
1985Q3
1985Q4
1986Q1
1986Q2
1986Q3
1986Q4
1987Q1
1987Q2
1987Q3
1987Q4
1988Q1
1988Q2
1988Q3
1988Q4
1989Q1
1989Q2
1989Q3
1989Q4
1990Q1
1990Q2
1990Q3
1990Q4
1991Q1
1991Q2
1991Q3
1991Q4
1992Q1
1992Q2
1992Q3
1992Q4
1993Q1
1993Q2
1993Q3
1993Q4
1994Q1
1994Q2
1994Q3
1994Q4
1995Q1
1995Q2
1995Q3
1995Q4
1996Q1

1533.9
1511.9
1499.8
1507.8
1532.6
1533.8
1550.6
1546.3
1590.5
1599.4
1605.5
1598.8
1617.6
1623.0
1621.0
1621.0
1609.0
1627.0
1624.0
1627.0
1617.0
1597.0
1580.0
1557.0
1553.0
1533.0
1517.0
1520.0
1525.0
1533.0
1543.0
1536.0
1527.0
1519.0
1513.0
1505.0
1499.0
1508.0
1518.0
1511.0
1518.0
1526.0
1535.0
1552.0
1566.0
1582.0
1599.0
1620.0
1643.0
1662.0
1678.0
1695.0
1709.0
1722.0

3.5
4.6
4.9
4.8
4.6
4.9
4.4
4.1
3.8
3.9
3.5
3.4
3.7
4.2
4.1
4.1
4.3
4.1
4.2
4.2
4.4
5.0
5.5
6.4
6.3
7.1
7.5
7.3
7.3
7.2
7.7
8.1
9.0
9.8
10.5
11.2
11.0
11.0
10.5
10.6
10.6
10.1
10.2
9.5
9.4
9.3
8.6
8.0
7.6
6.8
6.4
6.2
6.4
6.4

1996Q2
1996Q3
1996Q4
1997Q1
1997Q2
1997Q3
1997Q4
1998Q1
1998Q2
1998Q3
1998Q4
1999Q1
1999Q2
1999Q3
1999Q4
2000Q1
2000Q2
2000Q3
2000Q4
2001Q1
2001Q2
2001Q3
2001Q4
2002Q1
2002Q2
2002Q3
2002Q4
2003Q1
2003Q2
2003Q3
2003Q4
2004Q1
2004Q2
2004Q3
2004Q4
2005Q1
2005Q2
2005Q3
2005Q4
2006Q1
2006Q2
2006Q3
2006Q4
2007Q1
2007Q2
2007Q3
2007Q4
2008Q1
2008Q2
2008Q3
2008Q4
2009Q1
2009Q2
2009Q3

1740.0
1754.0
1744.0
1745.0
1754.0
1752.0
1750.0
1745.0
1738.0
1737.0
1734.0
1752.0
1758.0
1766.0
1786.0
1784.0
1784.0
1806.0
1822.0
1824.0
1841.0
1845.0
1868.0
1893.0
1905.0
1903.0
1918.0
1926.0
1942.0
1971.0
1973.0
1991.0
2006.0
2030.0
2064.0
2062.0
2071.0
2098.0
2099.0
2120.0
2140.0
2133.0
2133.0
2159.0
2170.0
2166.0
2180.0
2181.0
2181.0
2182.0
2195.0
2156.0
2157.0
2137.0

6.2
6.5
6.2
6.7
6.8
7.0
7.0
7.4
7.9
7.7
8.0
7.5
7.3
7.0
6.4
6.5
6.3
6.0
5.8
5.5
5.4
5.4
5.5
5.3
5.3
5.5
5.0
5.0
4.8
4.5
4.7
4.3
4.2
3.9
3.8
3.9
3.8
3.8
3.8
4.0
3.7
3.9
3.8
3.9
3.7
3.6
3.4
3.8
4.0
4.2
4.6
5.2
6.0
6.4

2009Q4
2010Q1
2010Q2
2010Q3
2010Q4
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4

2139.0
2147.0
2151.0
2169.0
2161.0
2181.0
2189.0
2192.0
2192.0
2194.0
2197.0
2187.0
2194.0
2198.0
2210.0
2242.0
2258.0
2280.0
2289.0
2313.0
2339.0
2354.0
2357.0
2347.0
2369.0

6.9
6.2
6.9
6.4
6.7
6.5
6.6
6.5
6.4
6.8
6.8
7.2
6.8
6.2
6.4
6.2
6.1
6.0
5.7
5.6
5.7
5.8
5.9
6.0
5.3

From 1986: Statistics NZ from 1986; Pre 1986: NZIER research paper D94/16 by Simon Chapple