November 24th, 2024

Business

Housing and household utilities were the next largest contributors, with new house construction costs rising 11% in the 12 months to March 2023, following a 14% increase in the 12 months to December 2022. Rents increased by 4.3% in the same period.
Business
1 year ago

Housing and household utilities contribute to New Zealand's inflation spike

New Zealand's inflation rate has remained at levels unseen since the 1990s, with the consumers price index increasing by 6.7% in the 12 months...

The proposals also address ways to enable small and community-scale renewable electricity generation.
Business
1 year ago

MBIE seeks public input on renewable electricity consenting improvements

The Ministry for the Environment and the Ministry of Business, Innovation and Employment (MBIE) have invited the public to provide feedback on proposals aimed...

The decline in household net worth can be attributed to a $12.3 billion or 1.0% drop in owner-occupied property values during the December quarter.
Business
1 year ago

Unravelling the housing market dilemma: insights from the Reserve Bank of New Zealand's discussion paper

A Discussion Paper published by the Reserve Bank of New Zealand on Thursday examined the two types of unsustainability that influence housing market. The...

In March 2023, electronic card transactions reached a total value of $9,455 million, showcasing an increase in spending compared to February 2023 ($8,381 million).
Business
1 year ago

Electronic card transactions surge in March 2023, driven by retail industries

Spending in retail industries increased by 0.7% ($45 million) in March 2023 compared to February 2023, according to data published by Stats NZ...

Global headline inflation is expected to fall from 8.7% in 2022 to 7.0% in 2023, while core inflation is likely to decline more slowly.
Business
1 year ago

IMF report warns of global economic slowdown amid financial sector turmoil and stubbornly high inflation

The International Monetary Fund (IMF) reports that early 2023 hopes of a soft landing for the world economy have faded due to persistently...

The decline in household net worth can be attributed to a $12.3 billion or 1.0% drop in owner-occupied property values during the December quarter.
Business
1 year ago

New Zealand household net worth declines by $10.3 billion in December 2022 quarter

New Zealand's household net worth experienced a $10.3 billion decrease in the December 2022 quarter, according to Stats NZ's quarterly data published...

Productivity growth is critical to the overall health of any economy, as it drives economic growth and competitiveness.
Business
1 year ago

New Zealand's productivity growth is encouraging, but there is more work to do

New Zealand's productivity levels have shown a promising increase of 2.2% in the year ended March 2022, according to the latest data from Statistics...

New Zealand parliament building: The Prime Minister emphasised a focus on providing assistance to families, seniors, caregivers, students, and workers, with wage increases, subsidies, and tax credits among the key initiatives.
Business
1 year ago

Green Party criticises RBNZ's OCR hike, opposition calls for alternative measures

The Reserve Bank of New Zealand's decision to increase its Official Cash Rate (OCR) by 50 basis points from 4.75% to 5.25% has been...

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Net worth has fluctuated due to shifting asset values, particularly in property and investment holdings.

Household spending surpasses income as net worth drops by $47 billion

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The significant decrease in fruit and vegetable prices has been a major factor in the overall modest inflation.

Food prices see smallest annual increase since 2018

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Provisional figures indicate that New Zealand saw 229,100 (± 3,500) migrant arrivals in the April 2024 year, marking a 25% increase from the previous year.

Record surge in migrant arrivals and departures for New Zealand in April 2024

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Socioeconomic inequalities in greenhouse gas emissions from household travel in New Zealand

Socioeconomic inequalities in greenhouse gas emissions from household travel in New Zealand

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Auckland region had the largest increase in earnings over the year to March 2024, up to $64.9 billion from $59.6 billion in the March 2023 year.

Total gross earnings in New Zealand up by 8.6% in year to March 2024

Business