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

 


Residential investment picks up in 2013

Residential investment picks up in 2013 – Media release

28 November 2013

Household spending and investment activity were the main domestic drivers of growth in the New Zealand economy in the March 2013 year, Statistics New Zealand said today.

In current prices (inflation not removed) household spending was up $3.5 billion (2.9 percent) and investment increased $3.0 billion (7.7 percent) from 2012.

Overall, investment in fixed assets was $41.8 billion in 2013 – returning to almost the same level as in 2008, which was the peak of the series.

"The main driver was investment in residential buildings, which rose $2.0 billion in the March 2013 year," acting national accounts manager Steffi Schuster said. "This is the largest year-on-year increase since this series began and is the first significant increase in residential building investment since 2008."

The statistics released today also showed that the size of the New Zealand economy (gross domestic product (GDP)) rose to $211.6 billion in the March 2013 year. GDP in current prices was up 2.0 percent
from the previous year.

The main sources of income from production were wages and salaries, and business profits.

“While income from employment was up in 2013, business profits fell. This particularly reflects lower profits in agriculture after two years of strong growth,” Ms Schuster said.


National Accounts (Income and Expenditure): Year ended March 2013

NationalAccountsIncomeExpenditureYeMar13.pdf

naiemar13isa201012.xls

naiemar13conso19872013.xls

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

OceanaGold: Man Killed In Waihi Mine Accident

A 29-year-old man had died following a work place accident at OceanaGold mine, Waihi last night. The man was killed after the front end loader he was in rolled down a slope. The accident happened at approximately 6.30pm on Thursday night. More>>

ALSO:

Constructing Consent: Annual Housing Consents Highest In Over A Decade

More than 29,000 new homes gained building consent in the year to June 2016, up 16 percent from the previous June year, Statistics New Zealand said today. More>>

ALSO:

War Against Weevil For Future Peas: “No Peas, No Weevil” Ban Now In Place In Wairarapa

The Ministry for Primary Industries (MPI) has today placed a ban on growing peas within a specified area and placed controls on moving pea material (seed and untreated pea straw) within, in and out of this area for the next 2 years. More>>

ALSO:

Wood Producers: Crisis In New Zealand Log Supply

New Zealand wood processing leaders held a hui with senior government officials and political leaders in Whangarei yesterday to assess the acute log supply shortage to local mills in Northland. More>>

Consents And Taxes: Trustpower 'Very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news