GDP Plus: An Economic Activity Indicator for New Zealand

Release date
24/01/2020
Reference
AN2020/01
Authors
Michael Callaghan; Thomas van Florenstein Mulder
ISSN
2230-5505

Non-technical summary

In order to gauge economic activity in New Zealand the Reserve Bank uses GDP data, which are subject to measurement error and revisions over time. In this paper we develop an economic activity indicator that combines information from production GDP, expenditure GDP, and employment data. This new measure is smoother and less vulnerable to revisions over time.