New Zealand's gross domestic product gained just 2.6 percent on year in the first quarter of 2015, Statistics New Zealand said on Thursday.
That was shy of forecasts for an increase of 3.1 percent and down from the 3.5 percent gain in the previous three months.
On a quarterly basis, GDP added just 0.2 percent - also well below forecasts for an increase of 0.6 percent. It was also down sharply from the downwardly revised 0.7 percent increase in the three months prior (originally 0.8 percent).
Among the main components, agriculture was down 2.3 percent, due to lower milk production, the bureau said. Mining was down 7.8 percent, due to decreased exploration activity, and oil and gas extraction.
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