New Zealand’s economy grew faster than expected in Q1 2026, with annual growth hitting 1.5% against a 1.1% forecast.
New Zealand’s first-quarter GDP expanded 0.8% quarter-on-quarter, slightly below the 0.9% consensus but up from 0.2% in the prior quarter. Annual growth reached 1.5%, exceeding expectations of 1.1% and marking an improvement from the previous 1.3% print.
Economists had anticipated a modest slowdown after stronger-than-expected prior data, but the annual figure surprised to the upside. The quarterly gain reflects resilience in domestic demand, though details on sector contributions remain pending.
Markets are assessing the data for implications on monetary policy, with the Reserve Bank of New Zealand’s next move under scrutiny.