Households spending more than a third more on utility bills than they did a year ago do not have much money left for fun stuff, Kiwibank economists say. By Susan Edmunds of RNZThey have released new spending data, which shows a tough end to the year for shops, particularly fashion retail. The need for a fresh lick of paint or new furniture is often suggestive of increased housing market turnover. Even though we've seen the underlying details in the labour market showing some signs of strengthening, the average household only looks at that headline unemployment rate. She said it was also significant that the housing market was still soft because a lot of wealth was tied up in it.

Source: Stuff February 20, 2026 19:11 UTC