New Zealand: Staff Report for the 2004 Article IV Consultation

International Monetary Fund

No 2004/128, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2004 Article IV Consultation highlights that economic growth in New Zealand slowed in early 2003 but rebounded in the latter part of the year. Real GDP growth declined from 4¼ percent in 2002 to a seasonally adjusted annualized rate of 2¾ percent in the first half of 2003, amid heightened international geopolitical tensions, concerns about SARS, and declines in farm output and hydroelectric generation related to a drought. The New Zealand dollar appreciated substantially during 2002 and 2003, but has depreciated somewhat since reaching a seven-year high in mid-February 2004.

Keywords: ISCR; CR; GDP; New Zealand dollar; monetary policy; fiscal policy framework; price index; labor market; financial system; current account; Exchange rates; Inflation; Global (search for similar items in EconPapers)
Pages: 46
Date: 2004-05-05
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