New Zealand’s credit data is telling two different stories, and business owners should pay attention to both. Centrix’s latest figures show consumer arrears are 11.2% lower than a year ago, while company liquidations are up 14%. The household recession is easing. The corporate failure cycle is not.
Centrix chief operating officer Monika Lacey told Mike Hosking conditions are “definitely stabilising” and that the credit bureau expects that to continue. Consumer arrears ticked up seasonally to 10.74%, credit demand is roughly flat on 2025 and defaults are down 1%. That is not a boom. It is the end of the freefall.
Rate cuts reached the kitchen table first
The household recovery has a simple engine. Back in…