NZ businesses lifted 2007 income by 6.3%

The results of the department's Annual Enterprise Survey showed 14 of 16 industry groups increased their income last year. Salaries and wages rose across all groups, gaining 6.4% to NZ$72 billion, slowing from a 7.7% pace in 2006.

The level of income growth slowed from 6.9% in 2006, according to the government statistician, which compiled data from Inland Revenue, the Treasury, local government and businesses.

Total expenditure rose 4.5% in the latest year to $464.2 billion, with purchases and wages being the biggest contributors.

By Jonathan Underhill

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