Source: MIL-OSI Submissions
25 January 2022
Household saving increases following nationwide lockdown, Stats NZ said today.
New Zealand households saved over $3.8 billion this quarter, driven by a 6.3 percent drop in household spending. This fall in household spending reflects the impact of higher COVID-19 alert level restrictions in place during the September 2021 quarter.
“In quarters where New Zealand has been in alert level four lockdown we have seen large falls in household spending, as parts of the economy have been unable to operate as usual. Despite this fall, household spending was $6.4 billion higher than during the June 2020 quarter which included approximately four weeks of the first nationwide level 4 lockdown,” national accounts institutional sector insights senior manager Paul Pascoe said.
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