New Zealand shares ended flat with a positive bias on Tuesday ahead of key US data that may determine the Federal Reserve's policy in 2026.

The S&P/NZX 50 Index was little changed to close at 13,424.95.

Investors await jobs and inflation data from the US, with several key details missing due to the longest government shutdown, which impacted data collection.

New Zealand on Tuesday released updated financial forecasts showing the budget is not expected to return to surplus over the next five years, as a sluggish economy offsets the government's efforts to maintain tight fiscal control, Reuters reported Tuesday.

"With fresh air in its lungs, the economy is picking up," New Zealand Finance Minister Nicola Willis said, as quoted by Reuters.

In domestic news, New Zealand's seasonally adjusted REINZ House Price Index's 0.3% fall in November, missing expectations of "small increases," according to a report by ANZ.

Also, food prices in New Zealand rose 4.4% in the 12 months to November, compared with a 4.7% increase in the 12 months to October, Stats NZ said in a report.

Further, the New Zealand house price index (HPI) in November showed that the nationwide housing market value has decreased by 0.2% year on year, with a 1.5% drop in Auckland and a 0.5% rise outside of Auckland, according to the report from the Real Estate Institute of New Zealand (REINZ), prepared in collaboration with the NZ Reserve Bank.

In corporate news, SkyCity Entertainment Group (ASX:SKC, NZE:SKC) said Chief Risk Officer Carolyn Kidd resigned, effective Jan. 31, 2026.

Contact Energy (ASX:CEN, NZE:CEN) said retail mass market electricity sales fell year over year in November, while gas sales grew during the month.