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National Accounts (Income and Expenditure): Year ended March 2013
Embargoed until 10:45am  –  28 November 2013
Key facts

The National Accounts (Income and Expenditure) release provides information on national income that is available for spending and saving.  It provides an insight into how saving is used and invested between different sectors of the economy.

This release incorporates improved information, including higher spending by overseas visitors to New Zealand, which results in a higher degree of national and household saving than previously published.

Graph, Household saving, current price, annual, 1987 to 2013.

In the year ended March 2013:

  • The size of the New Zealand economy was $211.6 billion, up 2.0 percent from 2012. 
  • Growth was driven by compensation of employees (mainly wages and salaries). However, business profits fell as the drought took its toll on the agriculture industry.
  • National saving was steady at $5.1 billion, led by saving in the business sectors.
  • Household saving fell to negative $0.8 billion. 
  • Household income grew more slowly than in 2012, as salary and wage increases were partly offset by lower entrepreneurial income from farming.
  • Household spending was up 2.9 percent, led by spending on housing and household utilities. 
  • Investment in residential building rose $2.0 billion – the largest increase since the series began.

 

Liz MacPherson
Government Statistician
28 November 2013
ISSN 2324-1896
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