Kiwi savers revert to type

Kiwi savers revert to type
Unprecedent savings during last year's lockdown haven't been blown (Image: Deposit Photos)
Stephen Toplis
Contrary to the musings of a number of local commentators, New Zealanders have not spent nine months blowing every last cent of the money they ferreted away in lockdown. What Statistics New Zealand’s new national accounts’ income and balance sheet data reveal is that during lockdown we saved an unprecedented amount but have now returned to our more normal, and somewhat unwise, habit of spending everything we earn.The confusion arose when commentators saw the word saving and interpreted it as a stock variable (ie the savings we...

More Economy

Manufacturing index creeps higher
Economy

Manufacturing index creeps higher

The sector remains in a contraction period that extends to 19 consecutive months.

John Anthony 11 Oct 2024
Kiwi's wings clipped, could break back below 60 US cents
Economy

Kiwi's wings clipped, could break back below 60 US cents

The NZ dollar is trading around a seven-week low. 

Rebecca Howard 10 Oct 2024
RBNZ cuts by 50bps to 4.75%
Economy

RBNZ cuts by 50bps to 4.75%

The committee reached a consensus to cut by 50bps rather than 25bps. 

Rebecca Howard 09 Oct 2024