New Zealand’s GDP expenditure growth almost came to a standstill in the fourth quarter of 2025, rising just 0.1% quarter-over-quarter, according to data updated on 18 March 2026. This marks a sharp deceleration from the third quarter of 2025, when GDP expenditure expanded by 0.9% compared with the previous quarter.
The quarter-over-quarter comparison highlights a pronounced loss of momentum in domestic demand and overall spending at the end of 2025. While the third quarter figure reflected relatively robust activity, the fourth quarter outcome suggests a significant cooling in expenditure-based growth as the year closed. Investors and policymakers will now be watching subsequent releases closely to assess whether this soft patch extends into 2026 or proves to be a temporary slowdown.