New Zealand: 400,000-plus behind on payments as hospitality liquidations jump 51%
New data shows more than 400,000 people in New Zealand are behind on payments, while liquidations in the hospitality sector have jumped 51%. Although some indicators are improving, those who have fallen behind on debts are getting into deeper trouble.
New data in New Zealand shows that more than 400,000 people are behind on payments, pointing to financial strain among a portion of households.
Liquidations in the hospitality sector, meanwhile, have jumped 51%. Cafes, restaurants and bars are struggling in the face of rising costs and shifting consumer spending.
The figures suggest the overall picture is improving for many New Zealanders, but those who have fallen behind on their debts are getting into deeper trouble. Analysts say the divergence shows the economic recovery is not being felt evenly across the population.
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