New Zealand's economy logged a faster growth in the first quarter, primarily driven by manufacturing expansion, official data revealed Thursday.
Gross domestic product advanced 0.8 percent in the March quarter after expanding by revised 0.5 percent in the preceding period, figures released by Stats NZ showed. Annual GDP growth improved to 0.8 percent from 0.3 percent in the December quarter. Manufacturing, the largest contributor to GDP growth, climbed 1.9 percent in the first quarter. Business services and wholesale trade also contributed to the increase in GDP.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.