New Zealand economic recovery 2025

The story so far

New Zealand's economic recovery is starting slowly, according to Infometrics, with growth lower in every region but rural economies supported by better export prices for horticulture, meat and dairy.^{22 May 2025} Economic downturns have affected regions differently, with Wellington strong on income and housing affordability and the top of the South Island reporting the best credit scores.^{10 Jun 2025} In ASB's Q1 Regional Economic Scoreboard, South Island regions took the lead, with Canterbury ranked best nationally on strong farm prices and export volumes, while Auckland fell to tenth.^{18 Jun 2025} Stats NZ reported GDP grew 0.8% in the March 2025 quarter, following a revised 0.5% rise in the previous quarter, with activity up across primary, goods-producing and services industries.^{19 Jun 2025} The country is trying to recover from a deep recession, but recent quarterly figures have sent mixed signals, with a strong dairy sector failing to lift the wider economy and global instability complicating the outlook.^{25 Jun 2025}

Latest

The most recent reporting says quarterly figures are mixed, with a strong dairy sector not yet lifting the wider economy and global instability clouding the outlook.^{25 Jun 2025}

Key moments

1. 22 May 2025Infometrics says the economic recovery is beginning slowly, with rural areas gaining momentum.
2. 10 Jun 2025Regional data shows downturns hit New Zealand regions unevenly, with Wellington and the top of the South Island strong.
3. 18 Jun 2025South Island regions lead ASB regional rankings; Canterbury ranks first and Auckland falls to tenth.
4. 19 Jun 2025GDP grew 0.8% in the March 2025 quarter, after a revised 0.5% rise previously.
5. 25 Jun 2025Mixed quarterly figures suggest slow recovery; dairy strength is not lifting the wider economy.

Written from the stories below; each sentence links to its sources.