NZ Glossary

The plain labels we use, their technical names and what they mean.

the economy per person (GDP per person): The economy's output divided by the population. It is not income: people's incomes are lower and vary widely.
the economy (GDP): The value of everything produced in New Zealand in a year.
national income per person (Real gross national disposable income per person): What the country earns per person after inflation, including income from overseas.
after inflation (real): Adjusted so dollars from different years buy the same amount.
points (percentage points): The difference between two percentages: 5% to 7% is up 2 points.
prices (inflation) (CPI, annual change): How much prices rose over the year, for a typical basket of goods and services.
pay rates for the same job (Labour Cost Index): Pay changes for the same job, leaving out promotions and job changes.
government spending (Core Crown expenses): Day-to-day central government spending, excluding state-owned companies and Crown entities.
tax (Core Crown tax revenue): Tax collected by central government.
net government debt (Net core Crown debt): What the government owes, minus its financial assets (excluding the NZ Super Fund).
the government's surplus or deficit (OBEGAL): Day-to-day revenue minus spending, before gains and losses on investments.
approved to be built (consented): Building consents issued by councils. Not every approved home gets built.
typical (median): The middle value: half are above it and half below.
household income after tax, adjusted for household size (equivalised disposable household income): Lets households of different sizes be compared fairly.
adjusted for living costs (PPP): Converts money between countries using what it buys, not the exchange rate.
not in work, education or training (NEET): Young people aged 15 to 24 who are not working, studying or training.
experienced a crime (victimisation / prevalence): Had at least one crime happen to them in the past 12 months, reported to Police or not.
new rentals (new tenancies): Rents for newly signed tenancies, not all rents.

Terms used on this page

The economy per person: The economy's output divided by the population. It is not income: people's incomes are lower and vary widely. Official name: GDP per person.
The economy: The value of everything produced in New Zealand in a year. Official name: GDP.
National income per person: What the country earns per person after inflation, including income from overseas. Official name: Real gross national disposable income per person.
After inflation: Adjusted so dollars from different years buy the same amount. Official name: real.
Points: The difference between two percentages: 5% to 7% is up 2 points. Official name: percentage points.
Prices (inflation): How much prices rose over the year, for a typical basket of goods and services. Official name: CPI, annual change.
Pay rates for the same job: Pay changes for the same job, leaving out promotions and job changes. Official name: Labour Cost Index.
Government spending: Day-to-day central government spending, excluding state-owned companies and Crown entities. Official name: Core Crown expenses.
Tax: Tax collected by central government. Official name: Core Crown tax revenue.
Net government debt: What the government owes, minus its financial assets (excluding the NZ Super Fund). Official name: Net core Crown debt.
The government's surplus or deficit: Day-to-day revenue minus spending, before gains and losses on investments. Official name: OBEGAL.
Approved to be built: Building consents issued by councils. Not every approved home gets built. Official name: consented.
Typical: The middle value: half are above it and half below. Official name: median.
Household income after tax, adjusted for household size: Lets households of different sizes be compared fairly. Official name: equivalised disposable household income.
Adjusted for living costs: Converts money between countries using what it buys, not the exchange rate. Official name: PPP.
Not in work, education or training: Young people aged 15 to 24 who are not working, studying or training. Official name: NEET.
Experienced a crime: Had at least one crime happen to them in the past 12 months, reported to Police or not. Official name: victimisation / prevalence.
New rentals: Rents for newly signed tenancies, not all rents. Official name: new tenancies.

Full glossary

NZ Glossary

the economy per person (GDP per person)

the economy (GDP)

national income per person (Real gross national disposable income per person)

after inflation (real)

points (percentage points)

prices (inflation) (CPI, annual change)

pay rates for the same job (Labour Cost Index)

government spending (Core Crown expenses)

tax (Core Crown tax revenue)

net government debt (Net core Crown debt)

the government's surplus or deficit (OBEGAL)

approved to be built (consented)

typical (median)

household income after tax, adjusted for household size (equivalised disposable household income)

adjusted for living costs (PPP)

not in work, education or training (NEET)

experienced a crime (victimisation / prevalence)

new rentals (new tenancies)