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New Zealand's back on the road to financial recovery, according to new reports.

The latest Stats NZ data shows the economy contracted 0.5 percent in the year to September.

But it's grown 1.1 percent - faster than expected - in the last quarter.

Infometrics Principal Economist Brad Olsen says we're effectively returning to where we once were.

"Momentum is starting to build, but it's building from a weak spot. So we're certainly not ...

New Zealand's economy grew more than expected between July and September. 

But between April and June, it shrank more than previously thought. 

GDP rose 1.1% in the September quarter, surpassing all expectation but Stats NZ has revised the numbers for the June quarter, finding GDP actually fell 1%, not the previously-reported 0.9%. 

That means the economy shrank 0.5% in the year to September. 

NZ Herald Business...

I know you shouldn't count your chickens before they hatch, but can we just take a minute to look at the good economic news coming out?

Government books aside, tomorrow's GDP read will show we bounced back with a spring in Q3 - close to 1 percent growth, they reckon.

What's more, that shocking read for Q2 should be revised down because it wasn't actually as bad as the topline number we were given to begin with.

Today, consumer conf...

There's hopes a new move by the Reserve Bank will bring about positive changes for New Zealand's banking sector.

It is changing the mix of capital banks are required to hold, aiming to reduce funding costs. 

It is also targeting closing the gap between bigger and smaller banks - making the market more competitive.

The Co-Operative Bank chief executive Mark Wilkshire says this will encourage competition and remove certain const...

The Finance Minister's still aiming for a surplus this decade, despite today's bleak economic news.

Treasury's Half Year Economic and Fiscal Update shows more delay to getting the books back to black. 

The deficit's expected to deepen more to a high of $16.9 billion and not narrow to $60 million dollars until 2029-30.

Nicola Willis says a 2029 surplus is very achievable.

"What that will take is just a small revision to the gro...

New data shows the service sector has now dipped in activity for six months in a row. 

The most recent PSI recorded performance at its lowest since May, at 46.9.  

For growth, it needs to sit at 50 or above. 

ABC Business Sales CEO Chris Small told Heather du Plessis-Allan the results were a surprise. 

He says the data had suggested the low point would be during Winter. 

The sector is blaming the weak econo...

The Government's Half Year Economic and Fiscal Update is due to be unveiled to the nation tomorrow, and the Finance Ministers outlined her expectations. 

Experts have speculated a projected surplus will be pushed back from 2029 by another year, and Prime Minister Chris Luxon tempered expectations earlier today.

Finance Minister Nicola Willis says 'fiscal discipline' will see New Zealand's economy keep growing in the coming mon...

The Prime Minister's tempering expectations ahead of the Government's books opening this week.

The Half Year Economic and Fiscal Update will be unveiled tomorrow - with some economists expecting a projected surplus to be pushed out by another year. 

Newstalk ZB senior political correspondent Barry Soper says this will be the third time a return to surplus has been pushed out.

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New Zealander Harry Mellsop has raised US$4.3 million for his start-up, Antioch, which he says brings artificial intelligence into the physical world.

He explained that Antioch’s tech will allow companies to build new or better AI robots by letting them test new features in software simulations.

Mellsop says this technology will help develop the autonomous driving space, drone technology, the manufacturing sector and several other ...

New Zealand's economy is set to expand next year, as several key indicators point to economic recovery.

Kiwibank's latest bi-annual report forecasts a 2.4 percent growth for 2026, with boosted household confidence, an improved property sector, and a stabilising labour market.

The review cites low interest rates as the leading drivers of growth.

Economist Sabrina Delgado says there's a broad base for recovery, which comes as relief ...

There are signs that green shoots are starting to flourish economically. 

The latest card spending data from Stats NZ shows retail spending was up 1.6-percent last month, compared to November last year. 

Spending was up across the board - on the likes of groceries, household items and clothes.

ASB Chief Economist Nick Tuffley told Ryan Bridge that the GDP for the second half of the year has had a strong rebound. 

He ...

The Singapore Government has teamed up with New Zealand-founded start-up The Fractional Directory for a new pilot programme.

The project will pair fractional leaders - experienced professionals who work with multiple organisations on a flexible basis - with Singaporean companies.

Company CEO Michelle Allbon says this may seem similar to consultant roles, but there's some key differences.

"The different between consulting and fracti...

Recent trading updates indicate the nation's leading retailers are feeling the pinch ahead of the busy season.

The Warehouse and Kathmandu are among the big names that have been seeing significant losses over the past few months.

Milford Asset Management's Michael Luke says there's hope things will pick up in the next few weeks, given the demand brought about by Christmas and Boxing Day.

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A signal from the Reserve Bank's led Westpac to hike rates - and one economist expects other banks could follow. 

Westpac lifted two five-year fixed rates by 30 basis points yesterday.

The bank's chief economist, Kelly Eckhold, says it seems the Reserve Bank's unlikely to cut the OCR again any time soon. 

"We kind of expected that they would cut the rate by 25 basis points, but we didn't expect them to call time on the ea...