New Zealand’s gross domestic product expanded by a seasonally adjusted 0.8 percent on quarter in the first quarter of 2025, Statistics New Zealand said on Thursday.
That beat forecasts for an increase of 0.7 percent following the downwardly revised 0.5 percent gain in the previous quarter (originally 0.7 percent).
On an annualized basis, GDP fell 0.7 percent – again exceeding expectations for a decline of 0.8 percent following the downwardly revised 1.3 percent contraction in the three months prior (originally -1.1 percent).
The GDP annual average was down 1.1 percent on quarter after slipping 0.6 percent in the previous quarter. Expenditure was up 0.9 percent on quarter, up from 0.6 percent in the previous quarter.
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