Westpac Financial Performance Update
New Zealand economy
Key economic statistics
FY15
FY16f
Change
NZD/USD
1.00
GDP annualised average growth
3.0%
2.7%
(30 pts)
0.90
0.80
Inflation rate
0.4%
0.5%
10 pts
ми
0.70
Official cash rate (OCR)
2.5%
2.0%
(50 bps)
0.60
0.50
Westpac
forecast
Unemployment rate
6.0%
5.7%
(30 pts)
0.40
⚫NZD/USD
0.30
Dairy payout (ex dividend) 1,2
$4.40
$4.00
($0.40)
2003
2006
2009
2012
2015
2018
Source: RBNZ, Westpac Economics
New Zealand unemployment rate (%)
GDP growth (%)
8
8
%
12
Qtr % chg
Annual average % change
Westpac
forecast
11
6
6
10
10
4
N
9
8
7
%
12
Westpac
Forecast
11
10
10
9
8
7
6
5
LO
5
4
3
3
1990 1993 1996 1999 2002 2005 2008 2011
Source: Statistics NZ, Westpac Economics
2014 2017
0
6
LO
2
2
0
-2
-4
T
2000 2002 2004
2006
2008 2010
2012
2014 2016
Source: Statistics NZ, Westpac Economics
1 Westpac NZ Economics forecast (ex dividend), Fonterra forecast is $3.90/kg. 2 Seasons ended May.
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