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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
New ZealandNew Zealand Labour Costs Index YoY fell to 3.4 in July 2024
FMPMonthlyReleased November 2024
New Zealand Labour Costs Index YoY fell to 3.4 in July 2024, released November 2024, down 0.2 from June's 3.6 reading. The reading matched the 3.4 consensus. Labour Costs Index YoY has now declined for 7 consecutive months. Labour Costs Index YoY is now the lowest in 27 months.
Latest Release
3.4
Actual
3.4
Consensus
3.6
Previous
Median Absolute Error
±0.1 percentage points
across last 12 releases
Last Call
Nov 2024
Predicted: 3.4
Actual: 3.4
Error: +0
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| NZD/USD | ▲ Direct | +0.55 | FOREX | Bullish NZD | → View |
| NZD/JPY | ▲ Direct | +0.45 | FOREX | Bullish NZD | → View |
| AUD/NZD | ▼ Inverse | −0.40 | FOREX | Bearish AUD | → View |
| EUR/NZD | ▼ Inverse | −0.35 | FOREX | Bullish NZD | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
The November 2024 reading fell from the previous value of 3.6. Over the last 12 releases, the Sigmanomics model has produced a median absolute forecast error of ±0.1. Historically, this indicator is positively correlated with NZD/USD (Bullish NZD) and positively correlated with NZD/JPY (Bullish NZD).
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Labour Costs Index YoY - NZ
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