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Spain Gross Domestic Product (QoQ) meets expectations (0.7%) in 2Q
Confirmed
In Short: New Zealand's Gross Domestic Product (GDP) grew by 0.2% in the second quarter of 2026, according to Statistics New Zealand, surpassing the 0.1% estimate and the Reserve Bank of New Zealand's (RBNZ) forecast of no growth.
The growth rate marks a slowdown from the 0.9% expansion in the first quarter, revised from the initial 0.8% figure.
Despite higher oil prices and election-year uncertainty, the economy continued to expand, with year-on-year output increasing by 2.6%, also ahead of expectations.
Mortgage and business-loan rates often follow expectations for where the RBNZ goes next, and the positive GDP figures may influence these rates.
The broadly firmer US Dollar (USD) is behind the slide in other currencies, with the greenback supported by climbing US yields and rate-hike expectations.
New Zealand's economic performance contrasts with Spain, where the GDP met expectations with a 0.7% growth in the second quarter.
While high-end products such as engineering goods, electronics, and pharmaceuticals grew by 18.1%, 22.6%, and 6.8% respectively, several labour-intensive sectors registered a sharp decline.
Textile exports slipped 12.4%, while leather products declined by 4.7%, and exports of low-margin products such as fruits and vegetables, ceramics, and glassware fell 10.3%, 25%, and 13.4% respectively.
Background
New Zealand's GDP grew by 0.2% in Q2, exceeding expectations and supporting the New Zealand Dollar.
What's confirmed
- The growth rate marks a slowdown from the 0.9% expansion in the first quarter, revised from the initial 0.8% figure.
- Despite higher oil prices and election-year uncertainty, the economy continued to expand, with year-on-year output increasing by 2.6%, also ahead of expectations.
- Mortgage and business-loan rates often follow expectations for where the RBNZ goes next, and the positive GDP figures may influence these rates.
- The broadly firmer US Dollar (USD) is behind the slide in other currencies, with the greenback supported by climbing US yields and rate-hike expectations.
- New Zealand's economic performance contrasts with Spain, where the GDP met expectations with a 0.7% growth in the second quarter.
- While high-end products such as engineering goods, electronics, and pharmaceuticals grew by 18.1%, 22.6%, and 6.8% respectively, several labour-intensive sectors registered a sharp decline.
- Textile exports slipped 12.4%, while leather products declined by 4.7%, and exports of low-margin products such as fruits and vegetables, ceramics, and glassware fell 10.3%, 25%, and 13.4% respectively.
What's still developing
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- Furthermore, the BoJ's dovish rate hike last week might cap JPY and support spot prices.
- At the peak of the West Asia disruption, India’s goods exports bucked expectations to record their best-ever June, with outbound shipments jumping to a record $44.24 billion.
- Healthy export figures amid two ongoing wars also supported the 7.8% year-on-year growth in gross domestic product (GDP) during the April-June quarter.
- New Zealand's Q2 Gross Domestic Product is due late on Wednesday, with growth expected to slow sharply to 0.1% on the quarter from 0.8%.
- New Zealand’s quarterly GDP rose 0.2%, above economists’ 0.1% estimate and the Reserve Bank of New Zealand’s (RBNZ) call for no growth, while year-on-year output increased 2.6%, also ahead of expectations.
- New Zealand’s economy kept expanding in the June 2026 quarter, with gross domestic product (GDP) up 0.2% – a small gain that still beat both market and central-bank forecasts even as higher oil prices and election-year uncertainty weighed on activity.
- A country’s Gross Domestic Product (GDP) measures the rate of growth of its economy over a given period of time, usually a quarter.
- New Zealand's Gross Domestic Product (GDP) grew by 0.2% in the second quarter of 2026, according to Statistics New Zealand, surpassing the 0.1% estimate and the Reserve Bank of New Zealand's (RBNZ) forecast of no growth.
- Wednesday, September 16, 2026 · 8:17 PM ET In Short: New Zealand's GDP grew by 0.2% in Q2, exceeding expectations and supporting the New Zealand Dollar.