Economic snapshot: March 2025 quarter – media release
3 July 2025
Our economic snapshot summarises important economic statistics for the March 2025 quarter.
It uses statistics drawn from key Stats NZ datasets to provide insights into New Zealand’s overall economic performance.
The economy grew in the March 2025 quarter, but contracted over the year.
- New Zealand’s gross domestic product (GDP) rose 0.8 percent in the March 2025 quarter, following a 0.5 percent increase in the December 2024 quarter.
- GDP fell 1.1 percent over the year ended March 2025, compared with the year ended March 2024.
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Household saving decreases in the March 2025 quarter – Stats NZ media and information release: National accounts (income, saving, assets, and liabilities): March 2025 quarter
Household saving decreases in the March 2025 quarter – media release
3 July 2025
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.
Visit our website to read this news story and information release and to download CSV files:
- Household saving decreases in the March 2025 quarter
- National accounts (income, saving, assets, and liabilities): March 2025 quarter
- CSV files for download
China: Authorities must end interference in Tibetan religious practices as Dalai Lama announces succession plan – Amnesty International
Responding to the Dalai Lama outlining the process for his spiritual succession ahead of his 90th birthday, amid longstanding efforts by Chinese authorities to control the reincarnation of Tibetan Buddhist leaders, Amnesty International’s China Director Sarah Brooks said:
“The Chinese authorities’ ongoing efforts to control the selection of the next Dalai Lama are a direct assault on the right to freedom of religion or belief. Tibetan Buddhists, like all faith communities, must be able to choose their spiritual leaders without coercion or interference by the authorities.
“The Chinese authorities have a long history of systematically suppressing religious freedom and tightening control over Tibetan Buddhism. For example, in 1995 the authorities forcibly disappeared Gedhun Choekyi Nyima, the boy recognized by the Dalai Lama as the Panchen Lama; Beijing has yet to properly explain his fate and whereabouts.
“This climate of secrecy, coupled with the imposition of numerous state-appointed religious figures within Tibetan Buddhism, highlights a concerning pattern of state control over religion in China.
“The Chinese authorities must immediately end political interference in Tibetan religious practices and cease using religious succession as a tool for control and coercion. Authorities must uphold the right of everyone to freedom of religion or belief. They must also immediately allow independent access to Gedhun Choekyi Nyima and take steps to end 30 years of impunity for his disappearance.”
Background
His Holiness the 14th Dalai Lama, the Tibetan spiritual leader, announced on Wednesday (2 July) in Dharamshala, India that he will have a successor after his death. He said only the Gaden Phodrang Trust, which he founded, had the authority to recognize his future reincarnation.
Chinese government policy asserts that all reincarnations of Tibetan Buddhist “Living Buddhas” must be approved by state authorities. This position is detailed in legal instruments such as the 2007 Measures on the Management of Reincarnation of Living Buddhas, which require official vetting and approval by multiple levels of government depending on the religious figure’s influence.
In its March 2025 white paper, “Human Rights in Xizang in the New Era,” the Chinese government reaffirmed this position, stating that the reincarnation system operates “under the guidance of Buddhist associations and the administration of the government.” The paper boasts that 93 reincarnated Living Buddhas had been confirmed following government approval by the end of 2024, highlighting state control as a key achievement.
Gedhun Choekyi Nyima was six years old when he was recognized by the Dalai Lama as the 11th Panchen Lama in May 1995. Three days later, he and his family were forcibly disappeared by Chinese authorities. He has not been seen in public since. The Chinese government has since made vague claims that he is “living a normal life”.
Under international human rights law, including Article 18 of the International Covenant on Civil and Political Rights (ICCPR), all individuals and communities have the right to adopt and manifest a religion or belief of their choice without coercion. Although China has signed but not ratified the ICCPR, it remains obliged not to defeat the treaty’s object and purpose. Enforced disappearance is a continuous violation under international law until the fate of the individual is clarified.
The UN Committee on the Rights of the Child and the UN Working Group on Enforced or Involuntary Disappearances have repeatedly requested information on the whereabouts of Gedhun Choekyi Nyima. The Special Rapporteur on freedom of religion or belief has emphasized that religious communities must be free to determine their leadership without state interference.
New report: Uber shifted millions offshore, avoiding $56m in NZ tax – Workers First Union
Source: Workers First Union
Economy – Appointments to Board of Reserve Bank of New Zealand
1 July 2025 – The Reserve Bank of New Zealand – Te Pūtea Matua welcomes the appointment of Grant Spencer and the reappointment of Byron Pepper to its governing Board.
Mr Spencer will serve for a five-year term, from 1 July 2025 to 30 June 2030. Mr Pepper will serve for a five-year term from 1 July 2025 to 30 June 2030.
Mr Spencer and Mr Pepper were appointed by the Governor-General on the recommendation of the Minister of Finance following their participation in a public appointment process run by Te Tai Ōhanga – The Treasury.
Grant Spencer brings extensive expertise in central banking, financial stability, and monetary policy. He held several senior roles at the Reserve Bank of New Zealand, including Deputy Governor, Head of Financial Stability (2007–2017), and Acting Governor (2017–2018). His international experience includes active participation in OECD and EMEAP forums, as well as contributions to the development of New Zealand's capital markets.
In addition to his professional experience, Mr Spencer is an Adjunct Professor at Victoria University of Wellington, with academic interests in financial regulation and macroeconomics. He holds advanced qualifications in economics and econometrics.
“Mr Spencer's appointment will enhance the Board's expertise in prudential regulation, macro-prudential policy, and financial market operations, offering complementary strengths to existing board members, particularly in the context of New Zealand's central banking landscape,” RBNZ Board Chair Professor Neil Quigley says.
Byron Pepper continues to bring strong governance and financial expertise to the Board. An independent investment banking advisor and director, Mr Pepper has more than 25 years' experience advising corporate and government clients, particularly in the financial services sector across New Zealand, Australia, and internationally.
He is the former director of Ando Insurance Group Limited and currently serves as a director or trustee of several New Zealand-based entities. Mr Pepper is also the founder of Vorigo Advisory, following a 22-year career at Goldman Sachs in its global investment banking business.
“We're pleased to reappoint Mr Pepper to the Board,” says Professor Quigley. “His financial and governance experience continues to add valuable insight to the RBNZ's decision-making.”
The Reserve Bank welcomes the contributions of both Mr Spencer and Mr Pepper to its governing Board and looks forward to their support in delivering on Te Pūtea Matua's strategic objectives.
More information
Our Board members – Reserve Bank of New Zealand – Te Pūtea Matua: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=886fb7c291&e=f3c68946f8
Environment – Wildly inaccurate figures used to justify ‘Shane’s $200 million fossil fuel slush fund’ – Greenpeace
Source: Greenpeace
Dairy Sector – Guy Roper to Chair NZ Dairy Companies Association (DCANZ)
Source: Dairy Companies Association of New Zealand (DCANZ)
Health Sector – General practice amazed at Government’s cash splurge on telehealth – Genaro
The General Practice Owners Association is calling foul at the huge difference between government funding for screen-based telehealth compared to face-to-face visits to community doctors.
“General practice is amazed at the extravagant payments to a few telehealth providers during these cash-strapped times. And we’re stunned that the government won’t fund anywhere near these amounts to support general practices to see the same patients,” says Dr Angus Chambers, Chair of GenPro.
“The scale of per-patient funding indicates clear favouritism for telehealth providers. Questions must be asked about whether telehealth is good use of public money when general practices are funded at lower rates for a superior standard of patient service.
“We’re asking health officials for the reasoning behind the funding difference in favour of screen-based appointments, which tend to be easier and quicker consultations, over a family doctor who examines patients more thoroughly.”
Ironically a telehealth consultation often results in a recommendation to visit a general practitioner for a more thorough examination, Dr Chambers says.
“We’re stunned that telehealth providers will receive:
$65 for seeing after hours a 14-year-old whose caregiver has a community services card, while general practice receives $20.45.
$65 for seeing after hours an adult with a community service card, while general practice will receive $15.33.
$95 for seeing a 13-year-old whose caregiver has a community services card, while general practice receives $20.45.
“While GenPro welcomed the recent increased funding for general practice, it’s important to emphasise that this boost was only for enrolled patients. This new telehealth service is for non-enrolled patients or those seeking care when their regular doctor cannot see them – which is a service many GPs also provide.
“This is an important distinction as the huge advantage for telehealth will significantly undermine the sustainability of general practice.
“Telehealth may be the only choice for remote rural areas where it is extremely hard to access a GP, or for those that are not enrolled in a practice, but it is risky to make it the first option for all.
This Government’s $165 million investment in large corporations and primary health organisations, instead of front-line GP services, comes despite international evidence that telehealth is ineffective at solving problems in the health system.
“Evidence from the UK showed that telehealth did nothing to reduce emergency department attendance rates, time to cancer diagnosis, or to see a specialist. Telehealth might be convenient, but is it best for patients?
“It seems that Health New Zealand believes that it is, as shown by this disproportionate funding,” Dr Chambers says.
GenPro members are owners and providers of general practices and urgent care centres throughout Aotearoa New Zealand. For more information visit www.genpro.org.nz
| Comparison of government funding of patients seeing screen-based telehealth providers versus face-to-face appointment at general practices Below is a comparison of the subsidies for either discipline to see a casual patient (not enrolled with the service provider). Noting that the Telehealth fees are capped.
All amounts include GST |
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Energy Sector – Unison brings kids’ electrical safety education online: Free for families everywhere
Local lines company, Unison Networks (Unison) is raising the bar for electrical safety education by launching its Digital Safe Sparks Programme to families across Hawke’s Bay, Taupō and Rotorua, making it easier than ever for children to learn how to stay safe around electricity.
For over 20 years, Unison’s Safe Sparks Programme has been delivered in schools through a two-part, indoor and outdoor session. While these visits will continue across Unison’s electricity network regions, the company recognises it can only reach a limited number of classrooms each year. The new online version removes that barrier, offering any child, anywhere, anytime the chance to take part.
The programme covers topics such as identifying electricity in the home, understanding how it is made, and developing practical safety skills. It also includes important information on Unison’s electrical equipment in the community, such as power poles, lines and boxes.
Unison Group General Manager People, Safety and Culture, Rachel Masters highlighted the importance of extending the programme’s reach.
“Keeping our communities and tamariki safe around electricity is at the heart of everything we do.
“By taking Safe Sparks digital, we’re giving every whānau the opportunity to learn together, whether at home, at after school care, or during the school holidays. It’s about building a safer future, one child at a time,” Mrs Masters said.
Designed for children aged 5 to 11, the interactive online experience features short, animated videos, real-life safety tips, and activities that help children understand how electricity works and how to stay safe, especially near Unison’s equipment like power poles, lines and boxes.
Unison has delivered its In-person Safe Sparks Programme to thousands of students across its electricity network regions since 2003. The digital version, launched to schools in 2024, has now been extended to include families, after school care providers and holiday programmes.
To celebrate the community rollout, Unison is offering spot prizes for those who complete the programme and submit the short form at the end. Three lucky participants will win $100 Prezzy Cards, with entries closing on 31 October 2025.
“It’s a great school holiday activity, or something to do on a rainy weekend. The whole programme takes just 15 to 20 minutes, but the learning lasts a lifetime.
“There’s no login required, it’s completely free, and families can download a personalised certificate at the end. It’s a fun and meaningful activity to do together,” Mrs Masters said.
Unison encourages parents, caregivers, schools, holiday programmes and after school care providers to explore the resource and share it widely.
Start the challenge today at: www.unison.co.nz/safe-sparks-digital.
Notes:
Unison Networks is New Zealand’s fifth largest electricity network, supplying over 119,000 customers across Hawke’s Bay, Taupō and Rotorua.
Household Labour Force Survey population rebase from 2023 estimated resident population – Stats NZ report
Household Labour Force Survey population rebase from 2023 estimated resident population – report
2 July 2025
This report outlines the effect of estimated resident population (ERP) revisions on the Household Labour Force Survey (HLFS) for the September 2018–March 2025 quarters.
Key points
We have revised the historical HLFS data from the September 2018 quarter to the March 2025 quarter and investigated the effects of revised national population estimates (NPE), Māori population estimates (MPE), and subnational population estimates, on our series.
While there were substantive changes to high-level estimates, the effects on key rates were negligible at the national level.
The main effects of the revision between the September 2018 and March 2025 quarters are set out below:
- overall decrease in the working-age population, from 4,335,000 to 4,297,000 in the March 2025 quarter, with both male and female working-age populations decreasing by a similar amount
- overall increase in the Māori working-age population, from 649,700 to 658,300 in the March 2025 quarter, with the wāhine Māori working-age population increasing more than the tāne Māori working-age population
- the number of employed people decreased slightly faster than the number of people in the working-age population, leading to a downward revision in the seasonally adjusted employment rate in the March 2025 quarter, from 67.2 percent to 67.1 percent
- the working-age population was revised downward for men and women in most age groups in the March 2025 quarter, with the only upward revisions for teenagers (aged 15–19 years, men and women) and women aged 20–24 years
- all regional working-age population estimates were revised down. The largest percentage decreases were in Otago (down 2.3 percent, 5,100 people) and Southland (down 2.1 percent, 1,800 people) in the March 2025 quarter.
Visit our website to read this report and to download CSV files:
- Household Labour Force Survey population rebase from 2023 estimated resident population
- CSV files for download