MNI BRIEF: NZ Q3 GDP Beats Expectations, Up 1.1% Q/Q

New Zealand’s economy grew 1.1% quarter on quarter in Q3, rebounding from Q2’s revised 1.0% contraction and exceeding the market forecast of a 0.9% increase, data released by Stats NZ on Thursday showed.

The outcome was also stronger than the Reserve Bank of New Zealand’s most recent forecast, which had expected GDP to rise 0.4%. (See MNI RBNZ WATCH: Easing Bias Maintained, But 2026 Hold Likely)

Business services rose 1.6%, driven by gains in computer system design and related services, advertising, market research and management services, and scientific, architectural and engineering services. Manufacturing increased 2.2%, supported by higher output in food, beverage and tobacco products, transport equipment, machinery and equipment, and petroleum, chemical, polymer and rubber products, while construction rose 1.7% and unallocated taxes increased 2.6%.

By contrast, information media and telecommunications fell 2.1%.