# New Zealand's economy grows 0.2% in the June quarter as construction offsets weaker transport and retail > GDP rose 0.2% after 0.9% in the March quarter, Stats NZ said on 17 September. Higher import prices cut real national disposable income by 0.4%. - Canonical URL: https://forextradingcommunity.com/news/new-zealand-gdp-june-quarter-2026/ - Type: Data - Published: 2026-09-17 - Updated: 2026-09-17 - Publisher: Forex Trading Community (https://forextradingcommunity.com), FTC Editorial Team - Currencies: NZD Stats NZ published gross domestic product for the June 2026 quarter at 10:45 a.m. New Zealand time on Thursday 17 September (22:45 UTC on 16 September). ## The headline figures Seasonally adjusted, in volume terms, compared with the March 2026 quarter: - **GDP**: up 0.2%, after a 0.9% rise in the March quarter - **Expenditure on GDP**: up 0.4%, after 1.1% - **GDP per person**: up 0.1% - **Year ended June 2026**: GDP 1.7% higher than in the year ended June 2025, and expenditure on GDP 2.2% higher In current prices, the economy was worth $455 billion over the year to June. ## Which industries grew - **Construction**: up 2.7%, the largest contribution, led by construction services and residential building - **Public administration and safety**: up 2.0% - **Wholesale trade**: up 1.3% - **Health care and social assistance**: up 0.8% Falls came in **transport, postal and warehousing**, down 1.7% because of weaker road transport, and **retail trade and accommodation**, down 1.0%. Accommodation and food services fell 3.8%, which Stats NZ said may point to a change in discretionary spending. ## Spending, trade and the fuel bill - **Exports**: up 3.3% - **Investment** (gross fixed capital formation): up 1.5% - **Imports**: down 0.8% - **Central government spending**: down 2.0% - **Household spending on transport**: down 1.6% Fuel prices shaped the quarter. Import prices rose 13.8% while export prices rose 3.5%, so the terms of trade fell and real gross national disposable income, a measure of what the country's income can buy, dropped 0.4%, or 0.6% per person. Imports of processed fuels, including diesel, rose 19.8% in volume but 123.8% in value. ## What it means for the RBNZ and the kiwi The Reserve Bank of New Zealand raised the official cash rate to 2.75% on 2 September, with annual inflation at 4.1% ([report](/news/rbnz-raises-ocr-to-2-75-september-2026/)). Slower growth and a squeeze on real incomes sit alongside inflation well above its 1–3% target, which is the trade-off the bank has to weigh. The New Zealand dollar is sensitive to commodity prices and global risk appetite ([commodity currencies](/news/commodity-currencies-aud-nzd-cad-nok/)), and to US rates after the Federal Reserve's increase on 16 September ([report](/news/fed-raises-rates-september-2026/)). [GDP explained](/news/gdp-explained-for-forex-traders/) covers how traders read growth figures. Live prices: [NZD/USD](/markets/nzd-usd/) and [AUD/USD](/markets/aud-usd/). ## Sources - [Stats NZ: Gross domestic product: June 2026 quarter](https://www.stats.govt.nz/information-releases/gross-domestic-product-june-2026-quarter/) - [Stats NZ: GDP increases 0.2 percent in the June 2026 quarter](https://www.stats.govt.nz/news/gdp-increases-0-2-percent-in-the-june-2026-quarter/) ## Common questions ### How is the New Zealand economy doing? GDP grew 0.2% in the June 2026 quarter after 0.9% in the March quarter, and was 1.7% higher over the year ended June 2026. Real gross national disposable income fell 0.4% as import prices rose 13.8%. ### How big is New Zealand's economy? In current prices, New Zealand's GDP was $455 billion (New Zealand dollars) for the year ended June 2026, according to Stats NZ. --- This article is for information only and is not financial advice. Trading forex and CFDs carries a high risk of losing money.