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New Zealand Labour Costs Index QoQ fell to 0.6 in July 2024, released November 2024, down 0.3 from June's 0.9 reading. The reading missed the 0.7 consensus by 0.1. The print is running well below the 12-month average of 0.92. Labour Costs Index QoQ is now the lowest in 39 months.
The November 2024 reading fell from the previous value of 0.9. Historically, this indicator is positively correlated with NZD/USD (Bullish NZD) and positively correlated with NZD/JPY (Bullish NZD).
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| Wednesday, May 13, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 03:00 | Inflation Expectations | 2.53 | 2.37 | 1.7 | 2.08 | Low | |
| 22:45 | Visitor Arrivals YoY | 15.1 | 15.2 | 17 | 16.05 | Low | |
| Thursday, May 14, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 22:30 | Business NZ PMI | 53.2 | 50.5 | 50.60 | Medium | ||
| 22:45 | Food Inflation YoY | 3.4 | 3.9 | 4.10 | Low | ||