Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Household expenditure and income increases

Household expenditure and income increases

28 November 2013

Increased spending on food, transport, and housing and household utilities means Kiwi households are spending more now than three years ago, Statistics New Zealand said today.

Results from the latest three-yearly Household Economic Survey (HES) show that average weekly household expenditure increased 9.1 percent, to $1,111, between 30 June 2010 and 30 June 2013.

Over this three-year period, there was an 11.5 percent rise in average annual household income, up from $76,733 to reach $85,588 in 2013.

“Both income and spending have risen over the last three years, and Kiwi households continue to spend most on food, and housing and household utilities,” standard of living acting manager Ian McGregor said.

The results released today show that average weekly household expenditure on:
• transport rose – from $131 to $158, with higher spending on petrol
• housing and household utilities rose – from $252 to $273, including an increase in spending on rates
• food rose – from $178 to $193, including more spending on fruit and vegetables.

This is the 40th year of the HES. Collection began in 1973, and since then the HES has been measuring how the spending habits of New Zealanders have shifted.

For more information about these statistics: Household Economic Survey: Year ended June 2013

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Interest Rates: Wheeler Hikes OCR To 3% On Inflationary Pressures, Eyes Kiwi

Reserve Bank governor Graeme Wheeler lifted the official cash rate for the second time in as many months, saying non-tradable inflationary pressures were "becoming apparent" in an economy that’s picking up pace and he's watching the impact of a strong kiwi dollar on import prices. More>>

ALSO:

Scoop Business: Equity Crowd Funding Carries Risks, High Failure Rate

Equity crowd funding, which became legal in New Zealand this month, comes with a high risk of failure based on figures showing existing forays into social capital have a success rate of less than 50 percent, one new entrant says. More>>

ALSO:

Scoop Business: NZ Migration Rises To 11-Year High In March

The country gained a seasonally adjusted 3,800 net new migrants in March, the most since February 2003, said Statistics New Zealand. A net 400 people left for Australia in March, down from 600 in February, according to seasonally adjusted figures. More>>

ALSO:

Hugh Pavletich: New Zealand’s Bubble Economy Is Vulnerable

The recent Forbes e-edition article by Jesse Colombo assesses the New Zealand economy “ 12 Reasons Why New Zealand's Economic Bubble Will End In Disaster ”, seems to have created quite a stir, creating extensive media coverage in New Zealand. More>>

ALSO:

Thursday Market Close: Genesis Debut Sparks Energy Rally

New Zealand stock rose after shares in the partially privatised Genesis Energy soared as much as 18 percent in its debut listing on the NZX, buoying other listed energy companies in the process. Meridian Energy, MightyRiverPower, Contact Energy and TrustPower paced gains. More>>

ALSO:

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news