Source: MIL-OSI Submissions
Strong household spending reduces saving – Media release
14 July 2022
Households spent nearly every dollar of their income in the March 2022 quarter, as the ratio of saving to disposable income approached zero, Stats NZ said today.
This ratio has been at elevated levels since the June 2019 quarter including throughout the COVID-19-affected period.
Seasonally adjusted household saving in the March 2022 quarter decreased as a rise in disposable income was outpaced by continued growth in household spending. This decrease resulted in a return to the level of saving seen before the COVID-19 pandemic.
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