New Zealand Business Activity Report

New Zealand nominal business sales grew by 2.0% in 1Q2026, marking a significant acceleration from the previous quarter. Despite this, the GDP tracking estimate remains unchanged at 0.8% qoq.

Key Takeaways

• 1.Nominal business sales in New Zealand increased 2.0% qoq in 1Q2026, accelerating from 1.0% in 4Q2025.
• 2.Goldman Sachs maintained its 1Q2026 GDP tracking estimate at 0.8% qoq.

Table of Contents

• New Zealand: Business activity: Solid increase in 1Q2026 sales; GDP tracking estimate unchanged at 0.8%qoq
• Key numbers:
• Main points:
• The Australia and NZ Economics Team
• Disclosure Appendix