New data suggests New Zealand's economic turmoil is far from over.

New economic data from Stats NZ prompted BNZ to increase its estimate of the size of the contraction in the economy in the three months to the end of June.

Harbour Asset Management expert Shane Solly explained further.

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Our largest sector is continuing to do it tough.

Latest data from BNZ and Business NZ shows our services sector —which makes up almost three quarters of the economy— has contracted for the 18th consecutive month.

Our manufacturing sector is also back in contraction after a period of growth.

Business NZ Chief Executive Katherine Rich told Mike Hosking we're still seeing a tale of two economies.

She says the primary sector is doing quite well, but the services sector is continuing to face challenges.

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The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.

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Last week, New Zealand First leader Winston Peters announced plans to campaign for compulsory KiwiSaver at the next election, and increase the minimum contribution from 4% to 12%.

He said there would be tax cuts alongside these changes to help fund the increase in contributions.

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The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.

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Sudden money can feel life-changing, or like a trap. Financial planner Liz Koh joins Nadine to discuss how to handle a windfall without blowing it, from clearing debt to protecting relationships and securing your future.

The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.

See omnystudio.com/listener for privacy information.

Hasn’t working from home become funny?

Seek have produced a thing called Money Matters, and they look at work-life balance.

Actually, hasn’t that become a thing as well – work-life balance. I can't place it exactly, but it seems like a Covid thing. The world changed and so did we.

Working hard is now so last year, or so last decade. We all long for work-life balance with a good sprinkling of mental health days.

But working from home is a scam because according to Money Matters if you got a pay rise you would go back to the office quick as you like.

So is it about work-life balance or is it about money?

Everything is about money. We just like to pretend it isn't. You feel more virtuous if you pretend it isn't about money.

But Money Matters spills the truth. Working from home is easier, we save on the commute, you claim you are more productive, blah blah blah. "Hey, how about 20% more?" Then you're out of there.

We would work more hours for more money, we would take on an increased workload for more money, and we would commute further for more money.

There isn't much we wouldn't do for more money.

The work from home thing, by the way, is funny because before Covid there was virtually no such thing. The idea that you could invent a thing and then having invented it, because we were all locked down anyway, turn it into a permanent thing that could only be broken by a pay rise is the ultimate in farce. It's an insight into how quickly a habit can form if it suits you.

Anyway, the only other thing that can make us blow up our precious work-life balance is more time off.

But it still doesn’t beat money.

It's why lotto is popular I guess – money solves everything.

Do we value work-life balance? My word we do.

But do we value it more than money? Don’t make me laugh.

The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.

See omnystudio.com/listener for privacy information.

Over the last few years, more international retail giants have moved to establish themselves in New Zealand.

Costco opened its first store in West Auckland a couple of years ago, and Ikea is set to open up its first New Zealand-based store in Auckland in December.

Fisher Funds expert Sam Dickie reveals why these changes are taking place.

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The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.

See omnystudio.com/listener for privacy information.

Voter turnout could be an issue for a proposal to introduce binding referendums on major council spending projects.

The Local Government Business Forum has released a report in favour of holding referendums for significant projects exceeding $500 per ratepayer.

It says it should only apply to non-essentials, preserving councils' ability to invest in key utilities like water and transport.

Forum Secretary Nick Clark told Mike Hosking thresholds need to be in play to help low voter numbers.

He says there should be a turnout threshold or a super majority, particularly if it's a binary choice.

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The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.

See omnystudio.com/listener for privacy information.

There's cautious optimism in the construction sector and hopes the economy will improve.

The Master Builders State of the Sector Report cites remaining demand issues like consumer confidence.

The report finds 66% of people describe their recent build as a positive and a similar number of people report no significant delays.

CEO Ankit Sharma told Mike Hosking regions are leading the way while urban centres like Auckland and Wellington are still facing headwinds, but there’s a strong pipeline.

He says they’re transitioning from survival mode into a place of, hopefully, sustainable recovery.

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The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.

See omnystudio.com/listener for privacy information.