New Zealand household saving dropped $392 million to -$1.6 billion in the March 2025 quarter, as household spending increased more than disposable income, according to figures released by Stats NZ today.
Negative saving means households spent more than their disposable income. Negative saving can be funded by borrowing and drawing on existing funds.
New Zealand household net disposable income rose 1.5 percent to $60.6 billion in the March 2025 quarter.
"The main driver of a rise in net disposable income this quarter was an increase in salaries and wages, up 1.5 percent," institutional sectors spokesperson Will Bell said.
"The increase in salary and wages was primarily in businesses in the health care and social assistance, manufacturing, and business services industries."
Household net disposable income is the amount of money a household has after all income (such as wages, interest, and child support) and outgoings (such as taxes) have been accounted for. It represents the money available for a household to spend, save, or invest.
Household spending increased 2.2 percent to $62.2 billion in the March 2025 quarter.
"An increase in household expenditure was driven by spending on cultural services, digital services imports, accommodation, motor vehicles, and clothing," Bell said.
| Quarter | Final consumption expenditure | Net disposable income |
| Mar-18 | 41759000000 | 41063000000 |
| Jun-18 | 42562000000 | 42141000000 |
| Sep-18 | 43326000000 | 42578000000 |
| Dec-18 | 43944000000 | 43644000000 |
| Mar-19 | 44017000000 | 43351000000 |
| Jun-19 | 44704000000 | 45190000000 |
| Sep-19 | 45309000000 | 46095000000 |
| Dec-19 | 45761000000 | 46538000000 |
| Mar-20 | 45562000000 | 46501000000 |
| Jun-20 | 40461000000 | 47752000000 |
| Sep-20 | 46342000000 | 49399000000 |
| Dec-20 | 47366000000 | 50558000000 |
| Mar-21 | 50000000000 | 51149000000 |
| Jun-21 | 50676000000 | 51207000000 |
| Sep-21 | 47848000000 | 51726000000 |
| Dec-21 | 51024000000 | 52735000000 |
| Mar-22 | 54284000000 | 52921000000 |
| Jun-22 | 53999000000 | 53402000000 |
| Sep-22 | 55427000000 | 54315000000 |
| Dec-22 | 56727000000 | 54826000000 |
| Mar-23 | 57781000000 | 55239000000 |
| Jun-23 | 58730000000 | 57615000000 |
| Sep-23 | 58786000000 | 57841000000 |
| Dec-23 | 59360000000 | 58333000000 |
| Mar-24 | 59806000000 | 59159000000 |
| Jun-24 | 60105000000 | 58759000000 |
| Sep-24 | 60424000000 | 58728000000 |
| Dec-24 | 60893000000 | 59710000000 |
| Mar-25 | 62207000000 | 60632000000 |
These statistics describe the household sector as a whole, rather than the experience of different individual households.
