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

 

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Scoop Business: Reserve Bank’s Spencer Calls On Govt To Rethink Housing Tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. More>>

ALSO:

The Nation: Call For Cross-Party Auckland Housing Plan

Penny Hulse calls for cross-party accord on Auckland housing because “it’s too important to score political points on”. More>>

ALSO:

Flu Season: Overcoming Vaccination Reluctance

While research shows that 40% of New Zealand businesses offer free or subsidised flu vaccinations to employees this time of year, HR professionals say persuading staff to participate is the biggest challenge. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news