New Zealand Q1 GDP Annual Growth Beats Estimates

2026-06-17 22:55 By Chusnul Chotimah 1 min. read

New Zealand’s economy expanded by 1.5% year-on-year in the three months to March 2026, matching the revised figure in the previous quarter and exceeding the expected 1.1% growth.

It was the third consecutive quarter of annual growth, boosted by service industries (2.0% vs 1.8% in Q4 2025), due mainly to higher wholesale trade (7.7%), retail trade and accommodation (4.4%), arts, recreation, and other services (2.5%), public administration and safety (2.3%), and professional, scientific, technical, administration, and support services (2.0%).

Conversely, goods-producing industries shrank 0.4%, weighed down by construction activities (-3.8%), while primary industries were unchanged, with agriculture, forestry, and fishing growing 1.7%, offset by a 10.9% fall in the mining sector.

On a quarterly basis, the economy expanded by 0.8% in Q1 2026, accelerating from an upwardly revised 0.5% growth in Q4 2025 but falling slightly short of forecasts of 0.9%.



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New Zealand Q1 GDP Annual Growth Beats Estimates
New Zealand’s economy expanded by 1.5% year-on-year in the three months to March 2026, matching the revised figure in the previous quarter and exceeding the expected 1.1% growth. It was the third consecutive quarter of annual growth, boosted by service industries (2.0% vs 1.8% in Q4 2025), due mainly to higher wholesale trade (7.7%), retail trade and accommodation (4.4%), arts, recreation, and other services (2.5%), public administration and safety (2.3%), and professional, scientific, technical, administration, and support services (2.0%). Conversely, goods-producing industries shrank 0.4%, weighed down by construction activities (-3.8%), while primary industries were unchanged, with agriculture, forestry, and fishing growing 1.7%, offset by a 10.9% fall in the mining sector. On a quarterly basis, the economy expanded by 0.8% in Q1 2026, accelerating from an upwardly revised 0.5% growth in Q4 2025 but falling slightly short of forecasts of 0.9%.
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