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

 

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