Earlier: ANZ job advertisements for January, link here

Some expectations were for it to be +0.9%, so this lower result may might cast some doubt on the near certainty the markets have been expressing re a March NZ rate hike.

Statistics New Zealand says lower electricity prices are key to the PPI fall:

“Lower electricity prices, influenced by lower demand in summer months and higher lake levels, contributed to both the lower input and output PPIs in the latest quarter,”

In the year to the December 2013 quarter the input PPI rose 2.8 percent. Wile the q/q result may give pause for thought on rate hikes, the y/y is still solidly high.