I’m an idiot

03/03/2014 § 3 Comments

I was looking at per-capita GDP today. Turns out I hadn’t realised how bad it’s been. I mean, I knew things had been moving a bit sideways and that the recovery, such as it has been, hasn’t been flash. But I hadn’t realised the full extent. So, from Stats NZ:

Real gross national disposable income per capita ($ 1995/1996 prices) SG09RAC00B06NZ

2008 — 32,247

2013 — 32,869

That’s growth of 1.9% in five years.

No wonder we’re grumpy.

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§ 3 Responses to I’m an idiot

  • Can you clarify a bit on that series for me? Disposable income there is net of what? Taxes? Taxes and housing?

    • Ah-ha — I have an answer for you. It is not the same as household income, so it isn’t net of anything:
      http://www.stats.govt.nz/browse_for_stats/economic_indicators/GDP/GrossDomesticProduct_HOTPMar13qtr/Data%20Quality.aspx#calculating

      The calculation starts out with GDP calculated with a production approach, and then adjusts for international income and transfers:

      RGNDI is calculated as follows:

      chain-volume measure of gross domestic product (production-based measure)
      plus a terms of trade effect (trading gain/loss)
      equals real gross domestic income
      plus real value of total net investment income
      equals real gross national income
      plus real value of total net transfers
      equals real gross national disposable income

      Then, the national total is divided by population.

      You’d have to look at the data definition pages to see how services from owner-occupied housing is included in GDP.

  • Ah, ok. I wasn’t sure what “net disposible” meant. If we want a series on how households are doing, then, we still need HLFS or NIS data. When I hear “net disposible”, I’m generally thinking household or personal income net of fixed payments like tax or maybe housing; this isn’t that. Cool.

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