New Zealand GDP Grows 0.2 Percent in June Quarter

New Zealand's economy grew by 0.2 percent in the June 2026 quarter, according to data released by Stats NZ. While this represents a slowdown from the 0.9 percent growth recorded in the March quarter, the result exceeded the Reserve Bank of New Zealand's forecast of 0.0 percent. The growth indicates the economy weathered an April oil price shock and conflict in Iran more effectively than expected.

Construction served as the primary driver of growth, increasing 2.7 percent due to higher residential building activity, its strongest performance since June 2023. Other contributing sectors included public administration and safety, which grew by 2.0 percent, as well as healthcare and wholesale trade. Conversely, the transport, postal, and warehousing sectors fell 1.7 percent, while retail trade and accommodation declined 1.0 percent.

Export volumes rose 3.3 percent, bolstered by U.S. demand for beef, while import volumes fell 0.8 percent. GDP per capita increased by 0.1 percent during the period, bringing the average annual growth rate to 1.7 percent. This marks the highest annual growth level since March 2024, though it remains below the long-term average.