New Zealand economic performance in the first half of 2024

Economic activity, as measured by Gross Domestic Product (GDP), fell by 0.2% in the second quarter of 2024, following a 0.1% increase in the first quarter of 2024. On an annual basis, GDP in June 2024 was 0.2% lower than in the year to June 2023. GDP-related expenditure was flat (0.0%) in the second quarter of 2024, compared with an increase of 0.3% in the first quarter. Year-on-year, expenditure increased by 0.3% in the year ending June 2024 compared with the year ending June 2023.