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…

The S&P/NZX 50 Index fell by 1.5 per cent to 12,264.49, marking its lowest level in two and a half weeks. The sell-off was widespread, with 111 stocks declining and only 24 showing gains. The drop followed a disappointing US jobs report released on Friday, which revealed a higher-than-expected unemployment…

ClimSystems, a climate risk management firm, has emphasised that the current flood adaptation measures are insufficient and has urged the Government to develop a comprehensive national flood adaptation platform. ClimSystems presented its concerns to the Finance and Expenditure Committee (FEC), which is tasked with formulating objectives for a new climate…

Retail NZ’s latest survey reveals that 43 per cent of retailers are uncertain about their future, a notable increase from the previous quarter’s 32 per cent. Adding to the gloom, more than 70 per cent of retailers did not achieve their sales targets in the recent quarter, underscoring deepening pessimism…

This alarming statistic, highlighted in a recent report by global infrastructure firm GHD, underscores a deepening struggle for affordability that outpaces many other developed nations. According to the study encompassing 10 countries and over 13,000 respondents, 17 per cent of New Zealanders are grappling with the crushing reality of spending…

A Kiwi food price report marks the first annual decline in nearly six years, signalling a departure from the persistent upward trend seen since August 2018. The decline in food prices was primarily driven by substantial drops in the cost of tomatoes, cheese, and potatoes, according to consumer prices manager…

The newly enacted Natural Hazards Insurance Act effective from July 1st, reflects a broader mandate to encompass a range of natural disasters beyond earthquakes. The Commission’s Chief Executive, Tina Mitchell, emphasises that the legislative update is designed to modernise and strengthen their ability to mitigate the impact of natural hazards…