National savings at six-year low

New Zealand's saving fell in the year to March to the lowest level in six years, Statistics New Zealand said yesterday.

National saving fell to $2.3 billion, from $5.5 billion in 2005, and $7.3 billion in 2004, according to the consolidated accounts.

At the same time, national disposable income for consumption or saving rose 3.9 per cent, following a 5.3 per cent rise in the March 2005 year.

Increased final consumption by households and Government - up 6.9 per cent - eroded national saving, on the back of falling agricultural profits and lower export growth.