New GDP data released today from Statistics New Zealand showed that the economy flatlined over the past six months, and overall, the economy is still smaller than it was at the election.
"For all the talk of green shoots, the economy hasn't grown at all in two years. Unemployment is up, and the cost of living is still rising for middle and low-income New Zealanders," said NZCTU President Sandra Grey.
"The economic wellbeing of working people is continuing to get worse under this National-led government. We urgently need a different approach.
"The data shows that the benefits of growth have been unequally distributed. Wages and salaries grew by 0.9% over the year to September 2025, but the broad measure of profits grew by 7.2%. There is a twin-track economy that is not benefitting workers.
"Across the economy, there were annual declines across more than half of all the sectors. Construction fell 8.5% this year. Mining is down 7.7% this year. IT and telecommunications are down 3.1%. Manufacturing is down 2.3%. Overall, the economy fell 0.5% last year.
"Economic growth is welcome if it translates into greater wellbeing. But the main growth is in unemployment claims, and the numbers of New Zealanders leaving the country. The economy is flatlining.
"This data reflects the fact that there is no plan to improve the lives of working people. GDP has fallen for two years in a row and is now worse than it was when National was elected. They are looking at further cuts at the next Budget, while we have record numbers on benefits.
"This National-led Government has proven that they are unable to lift the economic prosperity of working people, instead they are delivering higher costs and more job losses," said Grey.
