FX.co ★ New Zealand GDP Rises For 2nd Straight Quarter

New Zealand's economy experienced a quarter-on-quarter expansion of 0.8% in the first quarter of 2025, an improvement over the previous quarter's 0.5% growth and marginally surpassing market predictions of 0.7%. This expansion marks the second successive quarter of economic growth after two preceding quarters of decline. Economic activity increased across all three major industry sectors, with manufacturing leading the way, posting a substantial gain of 2.4% compared to a modest increase of 0.1% in the last quarter. The professional, scientific, technical, administrative, and support services sector likewise saw a 2.4% increase, rebounding from a slight contraction of 0.1%. Meanwhile, the agriculture, forestry, and fishing sector grew by 0.8%, maintaining its pace from the previous quarter. The construction industry made a turnaround with a 0.5% rise, following a significant 3.6% decrease in the prior period, and the mining sector returned to growth at 1% after a 1% decline. Conversely, some sectors registered declines; notably, arts and recreation services fell by 1.9%, following a 1.3% increase, while information, media, and telecommunications decreased by 0.8%, improving from a 2.9% drop. On an annual scale, GDP saw a decline of 0.7% in the first quarter, a slight improvement from a 1.3% contraction in the previous quarter.