NZ businesses lifted 2007 income by 6.3%

Friday 3rd October 2008

New Zealand businesses lifted their total income by 6.3% to NZ$523.9 billion in the 2007 financial year, just lagging behind growth in wages, according to Statistics New Zealand.

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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