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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
New ZealandNew Zealand PPI Output QoQ climbed to 0.8% in Q1 2026
FMPMonthlyReleased May 2026
New Zealand PPI Output QoQ climbed to 0.8% in Q1 2026, released May 2026, up 0.7% from December's 0.1% reading. The print came in hotter than the 0.5% consensus, a hotter print than forecasters anticipated. The print is running well above the 12-month average of 0.73%. PPI Output QoQ is now the highest in 9 months.
Latest Release
0.8
Actual
0.5
Consensus
0.1
Previous
Median Absolute Error
±0.4 percentage points
across last 12 releases
Last Call
May 2026
Predicted: 0.4
Actual: 0.8
Error: -0.4
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 RELEASE
PPI Output QoQ (New Zealand) was reported at 0.8% in May 2026. This beat the market consensus of 0.5% by 0.3%. The reading rose from the previous value of 0.1%. Trailing 12-month context per ETL data through May 2026.
WHY IT MATTERS
The trailing three releases averaged 0.5%, down from the prior three at 0.87%. In May readings over the past 3 years, PPI Output QoQ has averaged 1.27%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with NZD/USD (Bullish NZD). A secondary relationship exists with NZD/JPY, positively correlated (Bullish NZD). Over the last 12 releases, the Sigmacast model's median absolute error is 0.4%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include GDP Growth Rate QoQ (Jun 17) and GDP Growth Rate YoY (Jun 17).
Auto-generated from current model state · Refreshes on each release · Last update May 2026.
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PPI Output QoQ - NZ
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About PPI Output QoQ — New Zealand
DEFINITION
PPI Output QoQ (Quarter-over-Quarter) is a financial indicator that measures the change in the prices received by domestic producers for their goods and services over a three-month period. It is a key measure of inflation and provides insight into the overall health of the economy. This indicator is closely monitored by investors, policymakers, and businesses to make informed decisions about pricing, production, and economic trends.
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jan 2026): actual 0.8 %, consensus 0.5 %. Prior reading (Oct 2025): 0.1 %. Before that (Jul 2025): 0.6 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with NZD/USD (Bullish NZD, r=0.55) — a useful reference for forex-focused traders.