With such strong income growth occurring in the New Zealand economy, there is plenty to boost the nation’s spending…and saving. It’s not an either or. For evidence on household income growth look no further than the 3.7% annual jobs expansion in last week’s HLFS and the accompanying QES and LCI reports showing private-sector nominal wage inflation running around 3.0%. Which of New Zealand’s trading partners can top that combined accumulation, we wonder?
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