WELLINGTON, Sept. 16 (Xinhua) New Zealand gross domestic product (GDP) rose by 2.8 percent in the June 2021 quarter, following a 1.4 percent increase in the
Press Release – Statistics New Zealand Rising asset values resulted in a 5.5 percent increase in household net worth in the March 2021 quarter compared with December 2020, Stats NZ said today. Rising asset prices, including property prices, have meant that the total net worth of New …
Rising asset values resulted in a 5.5 percent increase in household net worth in the March 2021 quarter compared with December 2020, Stats NZ said today.
“Rising asset prices, including property prices, have meant that the total net worth of New Zealand households has increased strongly in recent quarters,” national accounts senior manager Paul Pascoe said.
Net worth is the value of all assets owned by households less the value of all their liabilities. At 31 March 2021, the net worth of New Zealand households was $2.3 trillion. This was $118 billion, or 5.5 percent, higher than at 31 December 2020.
Press Release – Statistics New Zealand Saving by New Zealanders in the March 2021 quarter fell to its lowest level in two years after rising sharply in 2020, Stats NZ said today. Increases in household spending outpaced income growth, leading to a decline in household saving from the elevated …
Saving by New Zealanders in the March 2021 quarter fell to its lowest level in two years after rising sharply in 2020, Stats NZ said today.
Increases in household spending outpaced income growth, leading to a decline in household saving from the elevated levels that prevailed throughout 2020.
“Household spending increased in the March 2021 quarter, after having been kept in check for much of 2020 by COVID-19 restrictions,” national accounts senior manager Paul Pascoe said.
NZ households net worth hits $2.3 trillion, savings fall to two-year low
(Photo / NZ Herald) Thu, 22 Jul 2021, 11:45AM
Rising asset values resulted in New Zealand households net worth topping $2.3 trillion in the March quarter, up 5.5 per cent or $118 billion over the December 2020 quarter, Stats NZ said.
Net worth is the value of all assets owned by households less the value of all their liabilities.
Household net worth increased by $402b over the year from March 2020 to March 2021.
This amount was almost the same as the growth over the previous four years from June 2016 to March 2020 ($419b), the department said.
While household loan debt had increased $16b from March 2020, the value of household assets has risen $417b, it said.