Business

Regional data provided further insights. Except for Marlborough, all regions had a reduction in new home consents.

Business

11 months ago

New Zealand sees a decline in new home consents for 2023

New Zealand witnessed a decline in the number of new homes consented over the past year, according to In the latest figures released...

The boost in household expenditure was primarily due to New Zealanders increasing spending on international travel.

Business

1 year ago

GDP slips 0.1% in March 2023 quarter amidst Cyclone impact and teachers' strikes

New Zealand's economic activity registered a dip of 0.1% in the March 2023 quarter, according to the latest figures from Stats NZ. This marks...

The combination of all passenger internal combustion vehicles experienced a more modest increase of 1.7%, amounting to $5.6 billion.

Business

1 year ago

EV imports to New Zealand surge as interest in greener vehicles grows

Imports of fully electric vehicles in New Zealand have more than doubled in value during the 12 months to March 2023, with a series...

Debt servicing costs for households have risen significantly from historically low levels during the pandemic, and by the end of the year, the share of disposable income required to service the interest component of mortgage debt is expected to more than double from its recent low of 9% to around 22%.

Business

1 year ago

Rising interest rates challenge NZ households and businesses

In the midst of an economic landscape marked by soaring inflation and a tightening labour market, New Zealand's households and businesses are navigating the...

Finance Minister Grant Robertson (L) and Social Development and Employment Minister Carmel Sepuloni

Business

1 year ago

Rising wages outpace inflation with more Kiwis in work

New Zealanders are experiencing record employment rates and increasing wages, with the government's economic plan generating additional jobs and higher earnings to help alleviate...

Business

1 year ago

Air New Zealand and Air China increase flight capacity to boost tourism

Air New Zealand is set to increase flight capacity between New Zealand and China, with the resumption of daily Auckland-Shanghai flights from 3 May...