In Q2 2024, New Zealand households reported negative savings, spending more than their income.

In the June 2024 quarter, New Zealand households reported a negative saving of NZ$479 million, as spending rose 1.0% to NZ$60 billion, primarily on services and non-durable goods. Simultaneously, net disposable income fell by 0.9% to NZ$59 billion, with total household income decreasing 0.2% for the first time since 2016. This shift indicates households spent more than their income, reflecting broader economic challenges.