Skip to main content

Auckland economic update June 2023

Ross Wilson
Auckland Council Research and Evaluation Unit, RIMU
Publication date:  

An overview of the Auckland economy for June 2023, in charts and graphs and with some commentary.

Highlights this month include:

  • real* GDP annual growth for the year ended March 2023 was 3.4%, similar to the 12-year average;
  • real* retail sales annual growth for the year ended March 2023 was 2.0%, similar to the two years before Covid but below the 12-year average;
  • unemployment rate in March 2023 quarter was 3.4%, similar to all of 2022 and the lowest ever March rate;
  • number employed in March 2023 quarter was 4.1% higher than March 2022;
  • dwellings consented in the year ended April 2023 was 20,029 - 7% lower than year ended April 2022, and continuing the downtrend since September;
  • non-residential consents for year ended April 2023 was $2,927 million in real* dollars - slightly below all of 2022, but similar to the three-year average;
  • other measures covered: house prices and numbers sold, weekly rents, business and consumer confidence, consumer spending, GDP, retail sales, building consents, employment and unemployment.

*Note: real dollars are after adjusting for the effects of inflation each quarter.

June 2023.

Previous 2023 updates. There is no January 2023 update.





Selected 2022 updates