New Zealand’s economy grew 0.2% qoq in Q2 2026, above forecasts of 0.1%, but slowing from an upwardly revised 0.9% expansion in Q1 and marking the weakest growth since Q2 2025. GDP growth was mainly driven by goods-producing industries, which rose 1.3%, supported by construction (2.7%), electricity, gas, water, and waste services (0.5%), and manufacturing (0.4%). Meanwhile, service industries grew 0.2%, led by higher output in public administration and safety (2.0%) and information (1.7%). In contrast, primary industries contracted 0.3%, weighed down by mining activities (-0.4%) and agriculture, forestry, and fishing (-0.3%). On the expenditure side, exports rose 3.3%, while imports fell 0.8%. Meanwhile, private consumption stalled, while government spending fell 1.7%. Gross fixed capital formation also grew, mainly supported by an increase in residential buildings (4.4%). Year-on-year, GDP advanced 2.6%, after an upwardly revised 1.7% growth in Q1 and surpassing estimates of 2.3%.