The September quarter saw a 1% contraction in the New Zealand economy, according to Statistics NZ. This number represents a 1.5% decrease from the same period last year. This decline follows a 1.1% decline in the June quarter, which has formally placed New Zealand in a technical recession, These contractions…

Since August, the OCR has been reduced from 5.5 per cent to 4.25 per cent, but the extent of its impact on the economy remains uncertain. While some benefits have materialised, broader economic activity is yet to show significant recovery. Mortgage rates and 12-month term deposit rates have fallen faster…

Commerce and Consumer Affairs Minister Andrew Bayly spoke of the agenda in a cabinet paper released recently, though no further funds were assigned for execution. The current approach will rectify the incoherence into which all of these strategies have fallen, causing them to fail to tackle sophisticated modern-day online scam…

Chief economist Dominick Stephens said that the official forecasts will likely be downgraded compared to the projections made in Budget 2024. Key economic indicators suggest the downturn will last longer and be more severe than previously thought. The Treasury had originally forecast a 0.2 per cent rise in Gross Domestic…

Overseas debt among students has risen to a record $2.37 billion, of which an estimated $2.2 billion is owed by borrowers living offshore, the majority residing in Australia. In response to this, the IRD has more than doubled the size of its specialist staff and has increased legal action in…

According to ANZ’s chief economist, Sharon Zollner, this trend is fostering a renewed sense of confidence among businesses, with forward-looking indicators showing an upward trajectory. The survey indicates that overall business confidence has increased by five points to a level of +66. In addition, expectations regarding individual business activity have…

This move aims to address growing concerns about the fairness of banking services, especially for farmers and rural communities. Willis has formally requested the Finance and Primary Production committees to conduct the inquiry, highlighting the necessity for a competitive banking environment. This directive stems from a coalition agreement between the…

By DFK Australia New Zealand In the competitive world of accounting, standing out from the crowd is essential for success. One effective way to gain a competitive edge is by joining a professional association tailored to your industry. A professional association offers more than just membership—it provides a range of…

According to Stats NZ, households recorded a deficit of $479 million, marking a concerning trend in personal finances. In this quarter, household spending reached $60 billion, a 1 per cent increase from previous figures. This rise was largely driven by expenditures on services and essential non-durable goods such as groceries.…

This decision raises significant implications for New Zealand consumers. These supermarket groups, which operate under popular brands argued that merging would streamline operations, reduce costs, and ultimately lower grocery prices. However, the Commission’s chair, John Small, highlighted concerns that the merger would substantially lessen competition and empower Foodstuffs to negotiate…