The New Zealand Activity Index (NZAC) introduced in the previous month, has been updated for June. It summarises several monthly indicators of economic activity that includes unemployment, consumer spending, traffic volumes, job vacancies, electricity generation, business outlook, and manufacturing activity.
Key highlights are:
- Activity in June is almost 1 per cent down on last year; after falls of 18 per cent and 6 per cent in April and May.
- The ongoing improvement in June was due to growth in electronic card spending, massive traffic movements and manufacturing activity.
- Most other indicators continued to improve.