28 Feb 2010

New Treasury study reveals positive savings rates

9:12 am on 28 February 2010

The Treasury says more work needs to be done to accurately gauge New Zealand's savings record.

Official figures have consistently shown that New Zealanders spend more than they earn.

However, a new study by Treasury researchers shows savings are positive.

The research shows that including housing wealth, New Zealanders saved as much as 28% of their income.

Without housing, average saving rates were between 2% - 5%.

However, the results could change when more recent figures become available.

The research covers the years 2004 - 2006 when the economy was booming.