MNI BRIEF: New Zealand GDP Up 0.8% Q/Q

New Zealand's economy grew 0.8% q/q in the first quarter of 2026, matching market expectations and accelerating from a revised 0.5% increase in Q4 2025, according to data released by Stats NZ on Thursday.

Growth was also reflected in expenditure measures, with expenditure GDP rising 1.0% q/q following a 0.4% increase in the December 2025 quarter. On an annual basis, expenditure GDP increased 1.3% in the year to March 2026.

On the production side, manufacturing output rose 1.9%, driven by gains in transport equipment, machinery and equipment manufacturing, as well as food, beverage and tobacco production. Business services increased 1.1%, supported by advertising, market research and management services and computer systems design and related services, while wholesale trade advanced 2.4% on stronger machinery and equipment wholesaling activity.

Partly offsetting these gains, mining output fell 11.6%, largely due to weaker oil and gas extraction, while construction declined 1.0%, reflecting softer activity in construction services.