New Zealand economy grows 0.8 pct in Q1

Alsharq Tribune-AFP 

New Zealand's gross domestic product (GDP) grew by 0.8 percent in the March 2025 quarter, up from a 0.5 percent increase in the previous quarter, according to the statistics department Stats NZ on Thursday.

The growth was broad-based, with all major industry groups, including primary, goods-producing, and services, recording gains, Stats NZ said.

Business services and manufacturing saw the largest rises in the 16 industries increased, with manufacturing growth driven by increased production of machinery and equipment, which also contributed to higher investment and export activity, said Stats NZ economic growth spokesperson Katrina Dewbery.

Despite the overall positive trend, some sectors such as arts and recreation services, and information, media, and telecommunications experienced declines, Stats NZ said.

On a per capita basis, GDP rose by 0.5 percent for the quarter, signaling continued improvement in economic wellbeing, it said.

The expenditure measure of GDP rose by 0.9 percent, outpacing the previous quarter's 0.6 percent increase, it said, adding household consumption was a key driver, rising 1.4 percent as spending increased across services, durables, and non-durables.

Growth in services spending was particularly strong, led by cultural services, digital services imports, and accommodation, statistic show.