New Zealand: 2012 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice

International Monetary Fund

No 2012/132, IMF Staff Country Reports from International Monetary Fund

Abstract: The New Zealand economy continues to grow at a modest pace. The 2012 Article IV Consultation reports that domestic demand has remained soft as households and businesses continue to deleverage amid a weak housing market and an uncertain outlook. Executive Directors endorse that output growth should pick up somewhat in 2012 as earthquake reconstruction spending is expected to gain pace. High household debt is likely to weigh on the growth of private consumption as households will need to save to strengthen their balance sheets.

Keywords: ISCR; CR; surplus; ANNEX I. fund relation; revisions to GDP; liability positions vis-à-vis nonresident; exchange arrangement; ANNEX II; social security fund; Current account deficits; Debt reduction; Foreign liabilities; Terms of trade; Global (search for similar items in EconPapers)
Pages: 45
Date: 2012-06-07
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