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

 


Household spending just outpaced income in 2013

Household spending just outpaced income in 2013

28 November 2013

Household income was $122.4 billion (up 1.8 percent) while household spending was $123.3 billion (up 2.9 percent) in the March 2013 year, Statistics New Zealand said today.

These results show households are not quite matching their income and spending. Household saving was negative at $0.8 billion.

"In 2013, household income was up, but the increase was small compared with the past three years as farming income fell,” acting national accounts manager Steffi Schuster said.

National accounts statistics for the year ended March 2013 provide a snapshot of the economy’s performance, including household income, spending, and saving.

Improved measures of spending in the New Zealand economy showed a higher level of household saving than previously published. The higher spending by international visitors and students in New Zealand was partly offset by higher imports of goods purchased directly by New Zealand households. The improved measures showed New Zealand households are spending less and saving more than previously indicated.

As a result of the revised household spending levels, household saving is now positive from 2010 to 2012. While saving levels are revised up, the pattern of saving by households remains unchanged.


Click for big version.

For more information about these statistics: National Accounts (Income and Expenditure): Year ended March 2013

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Tourism: China Southern Airlines To Fly To Christchurch

China Southern Airlines, in partnership with Christchurch Airport and the South Island tourism industry, has announced today it will begin flying directly between Guangzhou, Mainland China and the South Island. More>>

ALSO:

Dodgy: Truck Shops Come Under Scrutiny

Mobile traders, or truck shops, target poorer communities, particularly in Auckland, with non-compliant contracts, steep prices and often lower-quality goods than can be bought at ordinary shops, a Commerce Commission investigation has found. More>>

ALSO:

Auckland Transport: Government, Council Agree On Funding Approach

The government and Auckland Council have reached a detente over transport funding, establishing a one-year, collaborative timetable for decisions on funding for the city's transport infrastructure growth in the next 30 years after the government refused to fund the $2 billion of short and medium-term plans outlined in Auckland's draft Unitary Plan. More>>

ALSO:

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Real Estate: Investors Driving Up Auckland Housing Risk - RBNZ

The growing presence of investors in Auckland's property market is increasing the risks, and is likely to both amplify the housing cycle and worsen the potential damage from a downturn both to the financial system and the broader economy, said Reserve Bank deputy governor Grant Spencer. More>>

ALSO:

Annual Record: Overseas Visitors Hit 3 Million Milestone

Visitor arrivals to New Zealand surpassed 3 million for the first time in the July 2015 year, Statistics New Zealand said today. The record-breaking 3,002,982 visitors this year was 7 percent higher than the July 2014 year. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news