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Household spending continues to outpace income
Embargoed until 10:45am  –  20 November 2015

National Accounts (Income and Expenditure): Year ended March 2015  –  Media Release

Household income was $134.4 billion (up 0.8 percent), while household spending was $135.3 billion (up 3.3 percent) in the March 2015 year, Statistics New Zealand said today.

Household saving was negative, at -$0.9 billion. Saving for the household sector has been declining since its 2012 peak. Since 2013, household disposable income has increased more slowly than household spending.

"Household income was up in 2015, but the increase was small compared with the past three years as farming and dividend income fell,” national accounts senior manager Gary Dunnet said.

The increase in household spending was driven by spending on housing, household utilities, transport, and restaurants and hotel services.

Graph, Household saving and saving ratio.
 

National accounts income and expenditure statistics for the year ended March 2015 provide a snapshot of the economy’s performance, including household income, spending, and saving.

Ends

For media enquiries contact: Deborah Brunning, Wellington 04 931 4600, info@stats.govt.nz

Authorised by Liz MacPherson, Government Statistician, 20 November 2015

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