New Zealand's gross domestic product (GDP) rose 0.9 percent in the June 2023 quarter, following a flat March 2023 quarter, according to quarterly figures released by Stats NZ today.
| Quarter | Quarterly growth (%) |
| Mar-17 | 1.1 |
| Jun-17 | 1 |
| Sep-17 | 0.8 |
| Dec-17 | 1 |
| Mar-18 | 0.9 |
| Jun-18 | 1.1 |
| Sep-18 | 0.1 |
| Dec-18 | 1.5 |
| Mar-19 | 0.8 |
| Jun-19 | 0.4 |
| Sep-19 | 0.7 |
| Dec-19 | 0.8 |
| Mar-20 | -0.9 |
| Jun-20 | -10.5 |
| Sep-20 | 13.8 |
| Dec-20 | 0 |
| Mar-21 | 2.3 |
| Jun-21 | 1.7 |
| Sep-21 | -4.1 |
| Dec-21 | 3.6 |
| Mar-22 | 0.1 |
| Jun-22 | 1.3 |
| Sep-22 | 1.5 |
| Dec-22 | -0.5 |
| Mar-23 | 0 |
| Jun-23 | 0.9 |
| Quarter | Annual growth (%) |
| Mar-17 | 3.7 |
| Jun-17 | 3.5 |
| Sep-17 | 3.3 |
| Dec-17 | 3.5 |
| Mar-18 | 3.5 |
| Jun-18 | 3.6 |
| Sep-18 | 3.6 |
| Dec-18 | 3.5 |
| Mar-19 | 3.5 |
| Jun-19 | 3.2 |
| Sep-19 | 3.3 |
| Dec-19 | 3.1 |
| Mar-20 | 2.5 |
| Jun-20 | -0.7 |
| Sep-20 | -1 |
| Dec-20 | -1.5 |
| Mar-21 | -0.7 |
| Jun-21 | 5.9 |
| Sep-21 | 5.4 |
| Dec-21 | 6 |
| Mar-22 | 5.2 |
| Jun-22 | 1.2 |
| Sep-22 | 2.9 |
| Dec-22 | 2.7 |
| Mar-23 | 2.9 |
| Jun-23 | 3.2 |
"Business services was the biggest driver of economic growth this quarter, largely due to computer system design," economic and environmental insights general manager Jason Attewell said.
Several other industries also contributed to the growth this quarter, including:
- public administration, safety, and defense
- rental, hiring, and real estate services
- electricity, gas, water, and waste.
Transport equipment and machinery manufacturing drove higher activity in the manufacturing industry in the June 2023 quarter.
Manufacturing activity increased this quarter after five consecutive quarters of decline.
"Following the impacts of Cyclone Gabrielle, both education and transport, postal, and warehousing grew this quarter after a decline in the March quarter. Agriculture, forestry, and fishing, which was also impacted by extreme weather events, fell in both the March and June quarters," Attewell said.
The expenditure measure of GDP rose 1.3 percent in the June 2023 quarter.
Exports rose 5.0 percent, led by higher dairy, forestry, and meat exports.
Household spending grew 0.4 percent this quarter driven by increased spending on durables, including motor vehicles and audio-visual equipment.
Increases in exports, household spending, and investment resulted in a decrease in stock levels, particularly affecting motor vehicle and forestry inventories.
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