New Zealand's gross domestic product gained 0.4 percent on quarter in the second quarter of 2015, Statistics New Zealand said on Thursday.
That was shy of expectations for an increase of 0.6 percent following the 0.2 percent gain in the first quarter.
On a yearly basis, GDP advanced 2.4 percent - also below expectations for a gain of 2.5 percent and down from 2.6 percent in the three months prior.
Agricultural production increased 3 percent in the June 2015 quarter, due to increased meat and dairy farming.
"Despite falling milk prices, we're seeing growth in dairy production," national accounts manager Gary Dunnet said. "But over the year, agriculture is up only a little, due to dry conditions last summer."
Food, beverage, and tobacco manufacturing was also up in Q2, due to strong dairy product manufacturing. Inventories of meat and dairy products built up as exports of these goods fell.
Mining also made a partial recovery from recent falls, with a 2.5 percent increase in the latest quarter. The main driver was oil and gas extraction, but this was partly offset by decreases in coal mining and oil exploration.
Collectively, the service industries were up 0.5 percent in the June 2015 quarter, but it was a mixed picture at the lower level - six industries grew and five declined. Growth was driven by business services (up 2.3 percent) and rental, hiring, and real estate services (up 1.1 percent), but these gains were partly offset by a 1.8 percent decrease in transport, postal, and warehousing - the biggest fall since March 2009.
On the expenditure measure of GDP, domestic demand was strong (up 1.3 percent). Household spending was up 0.9 percent, with increased spending on fruit and vegetables, and big-ticket items including cars and furniture. Business investment also increased (2.2 percent) - but this was offset by falling exports and rising imports.
The size of the economy (in current prices) was NZ$241 billion for the year ended June 2015.
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