Here comes the squeeze

Here comes the squeeze
Inflation disproportionately has a bigger impact on households with lower incomes. (Image: Getty)
David Mann
As New Zealanders trickle back to the office – some still wringing out their wardrobes following a particularly sodden summer break – let's reflect on the year that was and the year ahead.While this summer has seen NZers dealing with tropical cyclones, last summer presented its own challenges as omicron put a dampener on festivities and business activities in the first quarter of 2022. It was against that backdrop and after record house prices peaking in November 2021 that consumer spending roared along as covid-19 restrict...

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Manufacturing activity has contracted for 22 consecutive months
Economy

Manufacturing activity has contracted for 22 consecutive months

New Zealand’s manufacturing sector contracted in December, marking the first time in the survey’s history that all 12 months were in contraction. The seasonally adjusted Performance of Manufacturing Index (PMI) for December was 45.9, up from 45.2 in November but still well below...

Rebecca Howard 17 Jan 2025
Bank economists expect OCR rises in 2026
Economy

Bank economists expect OCR rises in 2026

‘A number closer to four takes the cash rate to neutral,’ says BNZ's Stephen Toplis. 

Gregor Thompson 17 Jan 2025
Westpac records soft December retail spending
Economy

Westpac records soft December retail spending

Despite a slight lift, Westpac data points to a soft end of year for household spending.Westpac’s retail tracker, released on Thursday, showed spending on Westpac-issued credit and debit cards was up 2% in December compared to last year.  Westpac senior economist Satish Ranchhod...

Staff reporters 16 Jan 2025
Price shakeup for cigarette brand
Retail

Price shakeup for cigarette brand

Cigarette prices typically go up each year. Not in this case.

Oliver Lewis 16 Jan 2025