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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…

This discussion has gained momentum following comments from ANZ’s chief executive, who suggested that the time has come to consider implementing a capital gains tax. The Labour government has indicated that it is reviewing its tax policies and is open to examining options such as capital gains, wealth, and capital…

The decline marks a 0.5 per cent drop in annual growth, as revealed by the latest data from Stats NZ. The news initially suggested the economy might be heading towards recession; however, a revision of the December quarter 2023 figures changed a previous contraction to a flat result, indicating that…

According to Statistics New Zealand, food prices experienced a slight increase of 0.2 per cent in August compared to July, although the annual inflation rate for food has eased to 0.4 per cent. This suggests that while prices for dining out, takeaways, and groceries continue to rise, the overall pace…

According to Worldline, an electronic payments network, total retail expenditure reached $2.89 billion in August, marking a modest 0.5 per cent decline from the same period last year. This figure, though still down year-over-year, represents a notable improvement from the 2.6 per cent drop observed in July. Chief Sales Officer…

According to the ANZ Business Outlook Survey, the headline confidence measure jumped 23 points to reach a decade-high of +51 in August. Additionally, the ‘expected own activity’ measure rose by 21 points to +37, marking a seven-year peak. The timing of the survey, which was conducted around the Reserve Bank’s…

The latest quarterly economic monitor from Infometrics reveals a decline in economic activity, with a 0.2 per cent decrease in the annual growth rate for the June quarter, marking a year-end decline of the same magnitude. The report underscores a broad economic weakening, characterised by tighter household budgets, rising unemployment,…

This adjustment has prompted commercial banks to lower their interest rates almost immediately. Prime Minister Christopher Luxon and Finance Minister Nicola Willis attribute this move to the government’s successful efforts in slowing inflation, which they believe is a positive development for the economy. The reduction in the cash rate is…