FX.co ★ New Zealand’s GDP Expenditure Growth Cools to 0.4% in Q2 2026

New Zealand’s GDP expenditure growth eased in the second quarter of 2026, with quarter‑on‑quarter expansion slowing to 0.4%, down from 1.1% in the first quarter. The latest data, updated on 16 September 2026, indicate a moderation in the pace of economic activity compared with the strong start to the year.

On a quarter-over-quarter basis, the current reading reflects a comparison of the change in GDP expenditure in the second quarter relative to the first quarter, while the previous figure measured first-quarter growth against the final quarter of the prior period. The deceleration suggests that momentum in spending across the economy has softened, potentially pointing to a more cautious phase for households, businesses, or government outlays as the year progresses.