Data from Dot Loves Data, based on ANZ card transactions, showed that spending priorities changed significantly in the final quarter of 2024 compared to the same period in 2023. Essentials took precedence, and many Kiwis struggled to manage debt. Payments to debt collection agencies surged by 117 per cent, highlighting…

Confidence rose by 0.6 points, According to the ANZ-Roy Morgan Consumer Confidence Index, reaching 96.6 for the month. Despite the small uptick, many consumers are still not feeling the full effects of an improving economy. One of the key indicators for retail activity measures the number of households that believe…

According to Finance Minister Nicola Willis, New Zealand’s trade ties with the U.S. are unique in their balance and complementarity, positioning the two nations in a strong trade partnership. She highlighted that the U.S. imports significant amounts of New Zealand’s meat and wine, while New Zealand also imports a variety…

This rate cut prompted a wave of lower interest rates on home loans. Some economists are debating whether the central bank’s actions go too far. ANZ has cut its floating home loan rate to 6.89 per cent for new loans. The bank has also lowered its fixed rates by 10…

The latest quarterly Survey of Expectations reveals inflation is projected to be 2.06% in two years, a slight decline from the previous 2.12% forecast. This aligns with the RBNZ’s inflation target of between 1% and 3%, with a preferred midpoint of 2%. Inflation expectations play a critical role in shaping…

The data from Stats NZ reveals employment has experienced its largest annual decline since 2009, and economists predict further falls before recovery. This rise in unemployment is in line with expectations. Meanwhile, businesses continue to grapple with financial pressures and a sluggish economy. Analysts suggest that job losses will persist…

Following a period of moderate decline, figures released by CoreLogic indicate a stabilisation in property prices. The market has shown minimal movement with only a 0.4 per cent decline since March and August 2024. The market experienced a drop of 4/1 per cent between these dates. CoreLogic economist Kelvin Davidson…

Recent data shows the consumer price index (CPI) rose by 2.2 per cent in the last quarter of 2024, landing within the Reserve Bank’s target range of 1 to 3 per cent. While economists are celebrating this milestone, the reality for many families is not something to cheer about. The…

China’s ongoing property market crisis is expected to linger, with experts predicting stability may not return until 2026. For Kiwi businesses, this means a tough environment where weakened consumer confidence and falling demand create persistent hurdles. The roots of China’s property slump back to 2021 with the collapse of Evergrande.…

Mortgage borrowers in New Zealand may soon benefit from a dip in the mortgage rate, with experts and economists estimating a much more favourable borrowing atmosphere ushered in due to good economic conditions. Another 50 basis points deduction to the OCR is expected in February by the Reserve Bank, with…