New Zealand Tops GDP Growth across Western Democracies
Comparing GDP Growth in last 12 months to 30th June 2026
New Zealand grew more strongly than Western Economies (up 2.6%) over the 12-months to 30th June 2026. This has been a great result for all New Zealanders, in an extremely “trying” period of global unrest – including Trump’s tariff wars..
Expenditure GDP up 0.4%
The expenditure measure of GDP rose 0.4% in the June 2026 quarter, following a 1.1% increase in the March 2026 quarter.
The largest downward contributors to GDP in Q-Jun-26 were transport, postal, and warehousing (down 1.7%), and retail trade and accommodation (down 1.0%).
GDP per capita rose 0.1% during Q-Jun-26, 1.5% per year (only outperformed slightly by the US).
The comparison is rather more favourable to New Zealand than it has been for several years. After a prolonged period in which rapid population growth masked weakness in output per person, real GDP per capita is now growing again.
Australia provides the clearest contrast. Its headline GDP increased 2.1%, but GDP per person increased only 0.7%, because population growth absorbed roughly two-thirds of the aggregate economic expansion.
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